Matter Real Estate (“Matter”), a Pan-European residential real estate investment specialist, has announced a strategic partnership with Madison International Realty (“Madison”), a leading private equity firm focused on real estate, alongside GCM Grosvenor (Nasdaq: GCMG), a global provider of alternative investment solutions.
As part of this partnership, funds managed by Madison and GCM Grosvenor have acquired minority stakes in Matter from existing investor Black Lion. These strategic investments represent an important milestone for Matter, bolstering its capabilities and broadening access to an expanded network of global investors. The ownership of Matter’s management shares remains unchanged.
GCM Grosvenor’s involvement reflects the deepening of its long-standing partnership with Matter, having previously invested in several of Matter’s European residential platforms. This next phase builds on years of collaboration and shared success, underscoring GCM Grosvenor’s confidence in Matter’s strategy and commitment to unlocking further opportunities in Europe’s residential market.
In addition to acquiring a minority stake, Madison has made a substantial commitment to co-invest alongside Matter in select opportunities across Denmark, Sweden, Germany, and the UK. This investment aligns with Madison’s focus on supporting high-growth real estate operating platforms and leverages the firm’s complementary network of investors and extensive experience in platform investing.
David Christie, CEO at Matter Real Estate, said: “We are delighted to welcome Madison International Realty as a strategic like-minded partner, and to build on years of collaboration and shared vision with GCM Grosvenor. This partnership reflects the strength of our platform and the trust placed in us by early supporters of the firm, notably Black Lion. We’re particularly pleased to be working alongside Mo Saraiya and Bryce Robertson, and their respective teams. This marks an exciting chapter for Matter as we continue to scale our business, unlocking new growth opportunities and delivering our residential strategy across Europe.”
Mo Saraiya, Deputy CIO & Head of Platform Investments at Madison International Realty, said: “This transaction not only allows us to make a strategic investment in a first-class real estate investment manager, it also presents us with an opportunity to co-invest alongside Matter in building businesses in a number of our core European territories. We know the Matter team well and have watched David build the firm while establishing a strong track record over the past four years since founding the business. Our investment aligns perfectly with our strategy of investing in high growth real estate platforms, and we look forward to working with the team at Matter, alongside GCM Grosvenor, in helping with the continued growth of the firm building on the momentum achieved to date.”
Bryce Robertson, Executive Director at GCM Grosvenor, added: “Our partnership with David and the wider Matter team has been a cornerstone of our commitment to growing our presence in the institutional European real estate market. We believe Matter’s expertise and market position sets them up well in the current investment environment. Bringing Madison into the fold only strengthens that position; we’re looking forward to continuing to collectively build a leading pan-European residential player.”