Paris, October 1st, 2021: BC Partners Real Estate, the real estate investment arm of BC Partners, has announced its fourth investment. BC Partners European Real Estate I Fund (BCPERE I), which is advised by BC Partners Real Estate (BCPRE), has acquired a majority stake in the Alsei Group, a national property developer in France, engaged in commercial and residential activities. This new partnership will help accelerate Alsei’s growth plans and achieve its goal of doubling in size over the next couple of years. The acquisition will see the current shareholder, CICLAD, sell its entire stake.
The Alsei Group was created in 2000 by the Founder and current President, Jean-Christophe Courné-Noléo. In 2020 it achieved a turnover of €115 million and employs approximately 120 employees across France. Since inception, the group has developed more than 77 projects, covering more than 479,000 m². Today, the Alsei Group, under the Stockespace and Innovespace brands, is a market leader in the development of logistics and industrial parks and has strengthened its position in the residential development segment, particularly in Ile-de-France, under the Davril Promotion brand.
“Due to technological progress, today’s real estate sector is experiencing multiple changes across all asset classes, which in turn create new requirements and, consequently, new growth potential. Investing in the Alsei Group highlights our approach of working alongside top-quality management teams in the logistics and residential sectors to address the significant supply-demand imbalance that we’ve identified. Under the leadership of Jean-Christophe Courné Noléo and his team, the Alsei Group has developed differentiated expertise in these markets and has secured significant market share, and we look forward to building on this in the coming years” said Stéphane Theuriau, Partner and Head of BC Partners Real Estate.
“We are excited to welcome BC Partners as a majority investor, which will benefit both our employees and our clients. In light of the ongoing environmental challenges and the global health crisis, the real estate sector has been forced to rethink its approach, and we have both the know-how and experience to offer complex urban objects, logistics parks, industrial parks, housing and more, all embracing and reflecting the changes that have occurred due to these events. Through our collaboration with BC Partners, we now have the capital to accelerate our growth strategy and an experienced partner to support us in creating greater value in our developments,” added Jean-Christophe Courné-Noléo.
BC Partners Real Estate was launched in 2018 by Stéphane Theuriau, Laurian Douin and Thibault Lauprêtre. Prior to this transaction, the BCPERE I fund has made three other investments: Wingate House, a mixed-use building in Soho in London; an acquisition of a stake in Edgar Suites, an operator specialising in the transformation of offices into new generation hotels; and, most recently, the acquisition of Alte Post Kreuzberg, an office building in Berlin.
BC Partners Real Estate was advised by:
•Gide Loyrette Nouel - Legal
•Arsene Taxand - Tax due diligence and structuring
•Eight Advisory - Financial due diligence
•CBRE - Commercial due diligence
The shareholders of Alsei Group were advised by:
•Edmond de Rothschild Corporate Finance – Investment bank
•Hoche Avocats – Legal advice and structuring
•KPMG – Financial due diligence
About BC Partners
BC Partners is a leading asset management firm with over €40 billion in assets under management across the private equity, private debt and real estate segments. Established in 1986, BC Partners has played an active role for three decades in developing the European buy-out market. Today, senior staff from BC Partners’ offices in North America and Europe work as an integrated team serving multiple markets. Since its foundation, BC Partners has completed 124 private equity investments in companies with a total enterprise value of over €161 billion and is currently investing its eleventh private equity fund.
For further information, please visit www.bcpartners.com/real-estate-strategy
About The Alsei Group
The Alsei Group is a global player in real estate development. The Alsei Group achieved a turnover of 115 million euros in 2020. The Alsei Group covers all real estate businesses, from development, project management, design office, promotion, up to rental management and asset management. The Alsei Group includes the companies Alsei Entreprise, Davril Promotion, AIC (Alsei Ingenierie Construction) and the Opale Alsei Group which is similarly developing structuring operations for the creation of the City of tomorrow, on Reunion Island.
More information on www.alsei.com