Hayfin is pleased to announce that it acted as sole lender in providing the debt financing to support Axcel’s acquisition of Geomatikk from Hg.
Geomatikk is a Norway-based provider of mission-critical tech-enabled services for the management and protection of critical infrastructure. Its integrated offering allows for full value chain coverage and underpins significant value-add for infrastructure stakeholders, including network operators, excavators and municipalities. The group has operations in Norway, Sweden and Finland, and recently expanded to Denmark and Spain.
The transaction will enable Geomatikk to cement its leadership in the Nordics and pursue further expansion across other European markets.
Marco Ferrari, Managing Director, Private Credit, commented: “Geomatikk is an established market leader in an attractive and resilient niche, well-entrenched within an ecosystem which it helped build. We are excited to partner with Axcel and the management team, and to support the next chapter of the company’s growth journey. The transaction reflects Hayfin’s commitment to the Nordic region, where we see interesting opportunities for our Private Credit strategy.”
Each year, International Women’s Day offers a moment for corporates, governments and individuals globally to take stock. It provides the opportunity to celebrate progress but also reflect on challenges that still lie ahead.
The pace of change remains gradual. In the UK, women who work full-time still earn on average 6.9% less than men working the same number of hours, although the gap has narrowed by over a quarter over the past decade. In the United States, according to the Pew Research Center, women earn roughly 85 cents for every dollar earned by men, compared with 81 cents in 2003. These trends highlight that while we are moving in the right direction, meaningful progress requires sustained effort.
This year’s theme, Give to Gain, captured that dynamic clearly: meaningful progress comes when organisations actively invest in inclusion, opportunity and leadership development. When businesses create conditions for women to thrive, the benefits extend far beyond individuals; it shapes culture and supports long-term growth.
Against this backdrop, Hayfin’s Global Women’s Initiative hosted its third annual International Women’s Day event, From Retention to Leadership: An International Women’s Day Conversation. Bringing together senior leaders from across the industry, the panel discussion and Q&A explored how organisations can move beyond recognition towards action, such as removing bias in decision-making to expanding opportunities and building stronger leadership pipelines for women.
I was delighted to moderate this discussion, and would like to extend a huge thank you to our panellists: Sharon Bell, Senior Strategist in Goldman Sachs Research; Sabrina Fox, Founder, Fox Legal Training & Good Girl to Goddess; and Maria Johannessen, Head of UK Investment, Aon. Here are some of the key takeaways from the conversation:
Progress demands energy
Driving societal change does not happen overnight, and while systemic issues such as pay gaps are still evident, there has been progress. Representation is gradually improving: women now hold roughly 40% of board roles in FTSE 350 companies, up from 9.5% in 2011, reflecting sustained efforts to strengthen diversity in leadership.
The growing presence of women in senior roles sends an important signal to the next generation that leadership pathways are widening. However, accelerating progress will require continued energy and commitment from businesses and policymakers alike. For corporates, this means moving beyond intent to action – not just actively celebrating initiatives such as International Women’s Day, but also championing female leaders and implementing policies that develop and retain the next generation of talent.
Government also has an important role to play. While legislation such as the Equal Pay Act established an essential foundation, further progress will depend on policies that better support career continuity, including more balanced approaches to parental leave and greater recognition of the realities of time spent out of the workforce.
Sponsorship matters
Another theme that emerged from the discussion was the importance of sponsorship. Having someone advocate for you in meaningful ways when you are not in the room can be transformative. Unlike mentorship, which typically focuses on guidance and advice, sponsorship involves advocacy. A sponsor not only helps individuals clarify their goals and build confidence, but also uses their own influence to create opportunities, promote achievements and support progression into more senior roles.
For many women, a persistent challenge in the workplace is navigating expectations around leadership style. They are often encouraged to be more assertive, more vocal or more confident – yet when those behaviours are demonstrated, they can sometimes be interpreted differently than they would be for male counterparts. Sponsorship can help bridge this gap. By advocating for talent and ensuring contributions are recognised in decision-making forums, sponsors can help counter bias and ensure capability is evaluated fairly.
Models make a difference
Leadership is not only about setting strategy. It is about modelling the behaviours that shape workplace culture. That includes demonstrating that balance and boundaries are both respected and realistic. When senior leaders, both men and women, visibly prioritise responsibilities outside of work, such as leaving the office to pick up children or avoiding a culture of late-night emails and instant responses, it sends a powerful signal about what is truly prioritised within an organisation.
This is particularly important when considering the unequal distribution of unpaid work. Data from the Organisation for Economic Co-operation and Development (OECD) shows that women globally do almost 50% more unpaid domestic and care work than men. When a significant proportion of time outside the workplace is already committed, expectations around constant availability can disproportionately affect women’s ability to progress.
Respecting professional boundaries is therefore essential to building a more equitable environment. Clear boundaries help sustain long-term performance and allow talent to remain and progress within the workforce.
At the same time, the discussion also highlighted the importance of agency. Several speakers noted that actively putting oneself forward, be that asking for opportunities or seeking added responsibility, often opened the door to the most meaningful professional development.
The theme of our discussion was clear. Progress is evident, but the pace of change reminds us that there is still more to do. Businesses have a critical role to play in accelerating that momentum by championing sponsorship, modelling inclusive leadership behaviours and creating environments where talented individuals can thrive at every stage of their careers.
The software sector has found itself back under the spotlight as discussion around GenAI disruption gathers pace. The debate has intensified in recent weeks, after the launch of new AI‑driven tools prompted fresh questions about how quickly established workflows, currently inhabited by software companies, could shift. The accelerating pace at which foundational models are emerging has fuelled a sell-off in public software assets and scrutiny of private markets’ exposure to SaaS models, in both equity and credit.
At Hayfin, this is not a new theme. Early in 2024, we undertook an external review of GenAI‑related risk within our portfolio. Since then, we have embedded the relevant insights into day‑to‑day portfolio management and how we underwrite and invest in new opportunities. While the 2024 review didn’t point to a need for significant change across our portfolio, the result is that our exposure to the space today is deliberate, regularly measured and grounded in a clear view of where software remains resilient.
Across our Direct Lending strategy, software makes up less than 8% of fair value. It is worth recognising that, until very recently, software businesses were among the strongest performers in many institutional portfolios, and for a large number of these companies, the core fundamentals have not changed – they remain well‑run, cash‑generative assets with attractive return profiles. Performance across the software businesses within our portfolio remains in line with expectations. More importantly, this reflects the focus of our exposure: mission‑critical, workflow‑embedded software rather than content generation tools or basic analytics tools or platforms.
These companies sit deeper in customer processes, often underpinning core operational activities where reliability, specificity and domain knowledge matter. In our view, this type of functionality is structurally more difficult to disrupt, even as AI capabilities continue to evolve. Where these businesses also benefit from specialist sponsor ownership, the resilience is further reinforced through disciplined product development and operational support.
A commonly used lens for assessing software business quality is the Rule of 40. It’s a rule of thumb that measures whether a business’s annual revenue growth rate and its EBITDA margin, expressed as percentages and added together, exceed 40. It provides a simple measure of whether a company can balance growth with profitability – two characteristics that, when combined, tend to signal durable market positioning and a more sustainable long‑term operating profile. Businesses that consistently sit above this threshold often demonstrate strong customer value, efficient cost structures and an ability to invest through different cycles.
All companies within our software portfolio currently sit above the 40% benchmark. This is intentional. We prioritise businesses with diversified value propositions, meaningful customer embeddedness and the ability to sustain high margins alongside ongoing growth. We believe these attributes matter more, not less, in an environment where new technologies can alter competitive dynamics.
While industry commentary around GenAI continues to evolve, our approach remains rooted in fundamentals. Our focus is on software that sits at the heart of customer operations, with business models displaying clear relevance and the operational resilience required to manage both periods of change and across cycles. In practice, that means staying disciplined and backing businesses built to endure and generate stable cashflows rather than those chasing short-term momentum or reward.
Hayfin is pleased to announce that it has supported Five Arrows, the alternative assets arm of Rothschild & Co, in its acquisition of Totalmobile, a UK-based leader in field service management (“FSM”) software, through its Private Equity Solutions strategy.
Totalmobile has been combined with Solvares Group, a German provider of advanced scheduling, route optimisation, logistics and field sales management solutions. Solvares was originally backed in 2024 by Five Arrows and Deutsche Beteiligungs AG. This transformational merger has formed the largest pure-play, multi-vertical FSM software provider in Europe.
Totalmobile, headquartered in Belfast, is a UK leader in mobile workforce enablement, job management, rostering and workflow-centric FSM solutions, serving more than 500,000 field workers across public and private sectors.
Solvares is a leading German provider of field service, logistics and field sales management software, serving over 1,800 customers across Europe with best-in-class scheduling, dispatching, route optimisation and mobile workforce capabilities.
Vladimir Balchev, Managing Director, Private Equity Solutions at Hayfin, commented: “We are delighted to support Five Arrows in this landmark combination. We believe Totalmobile and Solvares will together create an exceptional platform operating at the very forefront of field service management software. This transaction underscores our experience in this space, which we continue to find extremely compelling, as it is underpinned by long-term growth drivers and a clear requirement for sophisticated, mission-critical workflow tools.”
Our industry is undergoing rapid change. When Tim and I first started Hayfin in 2009, private markets were still in their infancy. The term ‘private credit’ was yet to enter the mainstream. Fast-forward to 2026 and the asset class has grown considerably.
Media, regulators and governments now take a keen interest in what we do. Capital allocations – first from institutional clients, but increasingly from high-net-worths – have risen exponentially. Global private credit AUM has more than trebled in the past decade to over $1.5trn.
In this more mature market, investors are rightly asking their managers what sets them apart from the competition.
We’ve always answered this question with reference to three key competitive advantages:
- Scale
- Adaptability
- Culture
We see these three attributes becoming cornerstones of the industry’s most successful players.
As our platform has evolved over the past year, following the completion of our management buyout and the addition of Mubadala, Samsung Life and AXA IM Prime as shareholders alongside Arctos, these three differentiators ring even truer for Hayfin today.
Why scale matters
Market access has historically been a barrier to entry in private credit. We’ve previously outlined why that’s particularly the case for the fragmented European market.
However, we believe the size of our platform, reach of our network and depth of our proprietary data – gathered over more than 15 years, in the course of investing over €55bn into 500+ companies – should help us to continue retaining and growing lending relationships with high‑performing businesses in the years ahead.
With higher interest rates dragging on transaction activity in the post‑Covid period and slowing deployment for many funds, incumbency has proved a competitive advantage. Approximately half the capital deployed in our direct lending strategy over the past two years has been extended to existing borrowers. With €30bn of assets in the ground today, the opportunity to extend capital to existing borrowers will remain an important source of deal flow for Hayfin. That means we can maintain steady growth independent of broader M&A market cycles.
As AI adoption within private credit accelerates, and technology is increasingly used to crunch numbers and supplement human judgement during the underwriting process, we believe it’s the managers with the largest pools of historic investment data who will be best placed to generate insights.
Finally, we expect the benefits of increased fund sizes and lending capacity to intensify over time. A larger capital base and the ability to make bigger commitments should strengthen GPs’ hands, helping them achieve greater portfolio diversification and negotiate improved terms. With deal sizes continuing to rise, access to capital and close partnerships with blue‑chip LPs will be essential to remaining relevant.
How to adapt amid volatility
With continued volatility across markets and geopolitics, being dynamic and adaptable is crucial. European capital markets are smaller and less efficient than their US counterparts, and the risk‑return trade‑off can shift quickly. To counter this, we have deliberately designed our business to be able to pivot to capitalise on value and opportunity. This is reflected in our broad product suite, which enables us to serve the needs of both borrowers and LPs.
The emerging opportunity within asset‑backed lending is one such example. We are seeing increasing client interest in Europe in asset‑backed deals, as investors become more familiar with private credit and seek more complex, higher‑return and less commoditised opportunities. These types of investments have been a key focus of Hayfin from day one, with €12bn deployed to date, largely through the dedicated expertise we’ve built in sectors such as healthcare, real estate and maritime.
The benefits of flexibility are likely to keep rising alongside the evolution of the asset class. New deployment opportunities should emerge as private credit finances an ever‑increasing cross‑section of European economic activity. That steady expansion of private markets has driven the Bank of England’s inaugural exploratory analysis into how they intersect with the UK real economy, which we’re pleased to be participating in this year.
What a one‑firm culture means
The final ingredient to Hayfin’s success is our single‑firm culture. It has always been our aspiration to be Europe’s most integrated platform. If investors are looking for a multi‑boutique or a ‘pod shop’, there are many fine examples in the market. We aren’t one of them.
The Hayfin team now owns a substantial majority of the GP, and most of our employees are shareholders. This breadth of ownership is an important differentiator for a company of our type and size. That level of independence, autonomy and ownership creates value for LPs by enabling us to continue executing at pace and investing in the next generation of Hayfin leaders.
When we founded Hayfin in 2009, our ambition was to be a first mover capitalising on the emerging opportunity in European private credit. By building scale, resilience and adaptability in a firm that understands the power of collaboration, we believe we have created a platform for all investment environments. In today’s world – characterised by heightened risks and uncertainties alongside abundant opportunity – this flexibility is paramount.
Hayfin continues to be well positioned to support its clients, and I’m excited for what’s to come in the rest of 2026 and beyond.
Hayfin has successfully completed a €550 million refinancing for Juvisé Pharmaceuticals. The transaction includes €400m of existing debt and a new €150m capital expenditure line fully dedicated to future M&A opportunities.
The refinancing follows Juvisé’s 2024 capital reopening, during which BPI France and Pemberton joined the company as shareholders when acquiring Ponvory® rights from Johnson & Johnson. This latest restructuring underscores Juvisé’s strong financial position and robust operational strength, with its entire portfolio now fully integrated.
The refinancing continues to strengthen Juvisé’s financial flexibility, extending its debt maturity profile and providing additional resources to support future growth initiatives, including potential M&A opportunities.
Howard Rowe, Portfolio Manager and Co-Head of Healthcare Investing at Hayfin, said: “We are looking forward to supporting Juvisé in this next phase of its development. We believe the company has demonstrated consistent operational discipline and a strong historic track record of integrating and scaling essential medicines. This refinancing strengthens an already solid foundation, and we look forward to continuing our partnership as Juvisé pursues its growth strategy.”
Alban Senlis, Managing Director and Head of France at Hayfin, added: “Juvisé has continued to build a resilient platform, delivering essential medicines and effective execution. This refinancing gives the team the flexibility to pursue new growth opportunities with confidence as they enter a promising new chapter.”
Frédéric Mascha, Founder and CEO of Juvisé Pharmaceuticals, said: “This refinancing is a key milestone for Juvisé, strengthening our financial position and enabling us to continue delivering on our growth with the ambition to acquire and commercialize new essential medicines for patients. We are delighted to finalize this operation with our longtime partner Hayfin, whose long-term approach and healthcare capabilities make them an ideal partner to support our growth.”
White & Case served as legal advisor to Hayfin on the transaction. Juvisé was provided legal counsel by Latham & Watkins, with Lazard acting as a Special Advisor.
Single-asset GP-led transactions have emerged as a core exit route, matching IPO volumes and offering investors access to high-performing assets. Innovative structures such as continuation vehicles, co-control partnerships and “CV squared” deals are reshaping the market, while lead buyers increasingly secure premium opportunities.
Explore how these key trends are driving this evolution and why they matter for investors focused on long-term value.
- Single-asset GP-led structures firmly established as “fourth” exit route in sponsor toolbox as the nature of “secondaries” evolves
GP-led secondaries have exceeded 10% of global sponsor-backed exit activity in 2023 and 2024 and are now comparable in capital volume to sponsor-backed IPO activity.[1],[2]
This growing prominence within the GP toolbox is not incidental. We believe that single-asset GP-leds specifically are fundamental departure from the traditional concept that secondary deals need to offer a “liquidity” solution. Our experience in the last seven years indicates that GP-led structures, if done with the right rationale, are driven by the desire to keep compounding returns of star assets that are difficult to identify and originate in an increasingly competitive primary buyout market.
Our view – “secondaries by name, but not by nature” – is based on a few fundamental differences between traditional secondaries and single-asset GP-led solutions.
The traditional perception of secondaries links to a few core characteristics, namely:
(i) a main goal of generating high velocity deployment (and return) of capital with returns below those achievable by a direct buyout strategy,
(ii) highly diversified exposure (with tens to hundreds of companies acquired at a time),
(iii) buyers are generalist in their selection approach when it comes to target company sector and size,
(iv) their analysis and diligence is predominately based on limited access to company-level information.
On the other hand, we now have market longevity and historical track record for the single-asset GP-led segment that points to returns which are equal or in excess of a direct buyout strategy, single-asset GP-led managers can have highly targeted strategy lens and clear differentiation in origination and asset selection approach, and their execution capabilities are similar to direct buyout peers with investment processes and diligence requiring deep expertise and experience in direct asset underwriting. In essence, two diametrically different approaches, all falling under the same label – “secondaries”.
2. Continuation Vehicles are just a fraction of what is possible
The desire to hold compounding assets for longer – alongside partners with deep knowledge of the company and sector – has also driven the expansion of what a single-asset GP-led solution is, beyond single-asset continuation vehicles. We see the use of co-control structures and transformational M&A equity financing as natural expansions of a continuation vehicle’s core appeal to investors, i.e. the opportunity to access star assets in partnership with, and closely aligned to, the sponsors best suited to own them.
Partnerships such as recently announced co-control investments by Impilo and KKR, Oakley Capital and Eurazeo, and PSG and Rivean Capital illustrate the template of sponsors bringing in a co-control sponsor to continue successful buy-and-build stories. In each instance, the incoming co-control investor brings additional capital and capabilities to support the second phase of ownership, such as for geographic expansion beyond the home market.
Retaining a larger stake, governance rights and attribution is an attractive proposition to the existing sponsor. They may face constraints however, such as a lack of follow-on capital or fund concentration limits. Creative single-asset GP-led structures can help solve these.
3. “CV squared” emerging as additional route to liquidity
Transactions where one continuation vehicle sells an asset to a newly formed continuation vehicle are drawing significant attention. In our view, these are a natural consequence of continuation vehicles’ widespread adoption over the past five plus years. We see these transactions as a validation of the core thesis – great compounders can deliver alpha returns over multiple ownership cycles. We have seen this pattern playing out in the European landscape multiple times over the years in different disguises. Outstanding examples, such as Hg’s journey with Visma, only highlight the attractiveness of supporting star assets as they scale in their journey to multi-regional, multi-product pre-eminence.
“CV squared” transactions require a case-by-case basis diligence of the sponsor’s motivation, alignment and the go-forward value creation plan for the asset, just as a new investment would. For the existing limited partners, a continuation vehicle solution imposes the decision to sell or roll on – but we see considerable benefit in the additional liquidity provided to the market by these so-called “CV squared” structures, which only add to the exit alternatives available to investors.
4. Lead role in mid-market deals becoming ever more key
We saw single-asset GP-leds emerging as an opportunistic allocation within broader secondaries strategies without dedicated teams and capital. Buyers would initially accept syndicates with multiple competitors participating because the availability of capital on the buyside was not adequate to the demand from sponsors holding high-quality companies. Increasingly, however, we see transactions with one or two clear lead buyers who seek to secure an allocation early (even before a process has commenced) – thereby minimising the allocation available for syndication.
For allocators selecting single-asset GP-led strategies, that means that the highest-quality opportunities will only be accessible to a decreasing set of managers. When committing capital to GP-led managers, we believe allocators should therefore carefully examine origination track records and sourcing advantage going forward, as only those with the requisite strategy focus, team bandwidth and repeatable processes will be able to identify and secure these transactions.
References:
[1] Sponsor-backed exit activity source: Jefferies Global Secondary Market Review, January 2025
[2] IPO and secondaries volume source: Pitchbook, Annual PE Breakdown 2024 (published January 2025)
In this Q&A, Michaela Campbell, Head of Portfolio Monitoring at Hayfin, explains how her team is transforming data into actionable insights for LPs.
Michaela explores the growing importance of portfolio monitoring, the challenges of managing complex private credit data, and the role AI will play in shaping the future of the industry.
Tell us about the portfolio monitoring team at Hayfin.
As investors’ expectations around transparency grow, LPs are demanding more timely, standardised and high-quality data from GPs. It’s essential to have the infrastructure and resource to support bespoke requirements, as LPs increasingly seek to have consistent reporting from all of their GPs.
Further, with increasing geopolitical and macro-economic uncertainty, the need to be front-footed in monitoring portfolio health has never been greater. Our dedicated team has brought efficiency and streamlining to the reporting, ratings, monitoring and valuations processes, which allow for proactive portfolio management and early intervention.
I joined the firm last year to build out and lead this team. This was all part of a wider drive to invest in the quality of service we can offer to our growing LP base globally, at a time when institutional asset allocation to European private credit remains on the rise.
Our team is making real progress in the kind of insights we can extract from our portfolio companies’ underlying data. This has entailed a substantial investment of the team’s time and resource in structuring, standardising and analysing our portfolio data. Even within the past year, we’ve grown the portfolio monitoring team from two to eight with 2 more joining before the end of the year.
Why is portfolio monitoring important to LPs and what can they expect to gain from it?
For LPs, a portfolio monitoring function is essential for their managers to provide detailed reporting, proactive performance monitoring and value preservation.
Data granularity and enhanced analytic capabilities offer a range of benefits. We can exert better oversight of the portfolio, not only to allow for early engagement with management teams and sponsors, but also to inform future investment decisions, by using our insights and learnings for underwriting and portfolio construction and providing additional, contextual information to aid decision-making.
One example of enhanced analytic capabilities is our early warning indicators, which are fundamental to how we now review the portfolio and prioritise individual deals. This tool has been automated and will soon be available across teams.
Similarly, we were proactive in understanding how PIK-toggles impacted fund-level performance, and also in assessing first and second-order impacts from tariffs to the portfolio.
Through tools like this we believe we can be better partners – to both our borrowers and our LPs. Being able to identify red flags early enables us to engage with borrowers to protect value. Meanwhile, we give LPs the means to assess performance and make informed decisions about their allocations, as well as speeding up their due diligence processes on new fund allocations.
What makes data analysis so complex in private credit?
There are a few structural factors which help explain why the private credit industry has been a relatively slow adopter of automation and big data analytics.
The industry is relatively young, having only emerged in Europe post-crisis. As lenders, you rely on your borrowers to provide high-quality data, and you don’t necessarily have the same levers to pull as the shareholders to compel them to do so. That all impacts the size and quality of the dataset.
With over €50 billion invested in more than 500 companies over 15 years, Hayfin has built a proprietary data bank that supports differentiated and data-driven insights in Europe. We have long requested high-quality, consistent information from our portfolio companies to enable performance tracking. We believe this is now a key differentiator for our private credit platform.
We are now grappling with almost the opposite challenge. Like other large alternative asset managers, we deal with a high volume of data from a variety of investments which is received in many different formats, frequently changing over time and often multi-lingual. That requires us to standardise data from multiple unstructured sources. The quantity of data we receive is growing so cracking the standardisation problem isn’t just about cleaning up data; it’s about gaining a real competitive edge. We believe the firms that can collect, structure, analyse and share this information the fastest and most consistently, will be the preferred choice for asset owners and investors.
One additional challenge is that, increasingly, LPs want reporting delivered in a consistent format, often tailored to their internal systems. That puts pressure on GPs to evolve their processes and technology infrastructure to accommodate those requests.
What does the future hold for portfolio monitoring?
It almost seems too cliché to mention at this point, but we believe that elements of portfolio monitoring will centre around the intelligent use of generative AI. The industry is relatively early in its AI journey, but the pace of improvement and adoption will only accelerate.
The tricky nature of unstructured portfolio data has somewhat slowed the industry’s adoption of advanced data techniques compared to other sectors, but AI is already showing promise in streamlining underwriting, data analysis and deal logistics.
It’s important as an industry that we don’t rush the integration of generative AI into portfolio monitoring, as these GenAI models are often not sufficiently accurate to be fully relied upon. AI should supplement, but never replace, the human judgment, governance and validation that must remain central to our investment activities and portfolio monitoring.
Over time, I expect AI will help the industry resolve pervasive issues related to standardising performance tracking, as well as helping to detect anomalies and incorporate alternative data sources to flag emerging risks. But handling sensitive borrower data requires purpose-built tools and robust infrastructure, which will no doubt take time to perfect.
Overview
As private markets continue to evolve, new challenges drive sponsors, companies, banks and asset managers to seek creative financing solutions. While private credit funds are sitting on ample reserves of dry powder, much of this is earmarked for lower risk opportunities, in funds that are increasingly averse to structural or situational complexity.
Beyond the Unitranche: Creative financing solutions in a changing market
Hayfin today announces the acquisition of Gropius Passagen, Berlin’s largest shopping centre, from Nuveen and Unibail-Rodamco-Westfield. With around 95,000 sqm of lettable retail space, more than 150 tenants, and annual tenant turnover exceeding €200 million, Gropius Passagen is the dominant retail destination in Berlin’s Neukölln district and one of Germany’s premier shopping centres.
Following the acquisition, Pradera, a leading retail real estate investment management specialist will act as asset manager on behalf of Hayfin. Pradera will oversee a capital expenditure programme aimed at enhancing the centre, including the introduction of new medical space, improved accessibility, and a reconfiguration of selected retail units.
Carlos Colomer, Managing Director at Hayfin, said: “Gropius Passagen offers high-quality exposure to the opportunity we currently see within European shopping centres. It’s a locally dominant scheme in continental Europe’s largest retail market with a large and diversified portfolio of long-term tenants, combining defensive qualities with significant value-add potential. We’re looking forward to working with Pradera to upgrade the asset further and enhance the experience for Gropius Passagen’s loyal customers and retailer partners.”
JLL, Gleiss Lutz and Macfarlanes advised Hayfin on the transaction. CBRE and ambas acted on behalf of the vendor with Hauck Schuchardt as legal advisor.