Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Keppel Corporation Limited (‘Keppel’) on its agreement with Aermont Capital SCSp to acquire leading European real estate manager, Aermont Capital (‘Aermont’).
Established in 2007, Aermont is an independent asset management business focused on real estate and real estate-related investment activities in Europe, and in 2023 was ranked by PERE as the highest among Europe-based real estate firms in terms of funds raised in the last five years. Its assets under management include the world-renowned Pinewood Studios in the UK.
Keppel is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered and listed in Singapore, Keppel operates in more than 20 countries worldwide and has more than S$65 billion of assets under management.
The transaction will take place in two phases, with Keppel initially acquiring a 50% stake in H1 2024 (subject to identified regulatory and other approvals) and the full acquisition expected in 2028, with consideration expected be funded through a combination of cash and Keppel shares.
The Freshfields team is being led from London by Richard Johnson, together with Alastair Mordaunt on antitrust matters; James Smethurst on financial services regulatory matters; Keith Chapman on funds matters; Jill Gatehouse and Emily Szasz on tax matters; David Mendel on employment and pensions matters; Vikki Hills on real estate matters; and Giles Pratt on IP/IT matters.