#130 RECAP with Keith Breslauer- MD & Senior Partner at Patron Capital
Keith Breslauer, Managing Director & Senior Partner at Patron Capital Partners, joins me on the People Property Place Podcast this week. Please note that this conversation was originally released on the 18th July 2024, and we have decided to re-release it given the recent news that Mitsubishi Estate Co. has acquired a majority stake in European private equity property fund manager Patron Capital. In this conversation, we trace Keith’s journey from a self-funded entrepreneur in New York to building one of Europe’s leading opportunistic real estate investment firms - Patron Capital Partners, with over €5.4bn raised across 17 countries. Keith is honest, reflective, and deeply driven by purpose. He doesn’t shy away from the challenges and lessons learned from nearly three decades in private equity real estate. If you’re interested in real estate fund management, distressed investing, fundraising, or leadership driven by long-term thinking and values, this episode is jammed packed full of wisdom. Key Topics Covered In This Episode: • Early career lessons and building a software business to fund his education • How a career in secured credit at Lehman Brothers led him into European real estate • Why he left Lehman to start Patron and how he raised his first fund • What made Patron’s hybrid local partner model so effective across Europe • Alignment between LPs, Patron’s internal team, and local operating partners • Why discipline on leverage preserved Patron’s position through GFC and COVID • What he learned from raising and deploying seven funds • We discuss the most recently €860m raise for Fund VII • The opportunity set today - distress, ESG, supply-demand mispricing • Fund structure, deal sizing, and where specifically Patron deploys it capital • The evolution of his investor base and the shift away from US LPs • How political and macro uncertainty is affecting decision-making • Reflections on legacy, purpose, and why charity work has become so central to him And finally… With £500m to invest – which People, what Property, and which Place would he choose? Enjoying the show? Follow and turn on notifications so you never miss an episode. The People Property Place Podcast is powered by Rockbourne – Giving Real Estate Investors a difficult choice of who to hire. If you’re serious about adding game-changing talent in 2025 and are open to doing it differently, DM me on LinkedIn. #realestate #privateequity #property #fundmanagement #podcast
People Property Place
Powered by Rockbourne, the central intention of this podcast is to share the stories, views, opinions, and career journeys of the movers, shakers, innovators, and leaders in the real estate investment management industry.
Whether you are an existing real estate professional, aspiring to break into the space, or just want to know more about this fascinating sector this podcast is for you.
New episodes of The People Property Place Podcast will be released regularly and you will be able to find them for free on Apple, Spotify, YouTube, or any App that supports podcasts.
Oh, and one last thing - in every episode, I will be asking each guest who are the People, what Property, and which Place they would be looking to invest, should they have £500m at their disposal.
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