Private equity firm growing at a rapid rate
23 April 2015
Cogress Ltd, the London-based private equity firm, has announced that it has smashed the £200m barrier in UK GDV (Gross Development Value) – just under a year since it was founded. This once again highlights the lure of the UK market to individual and sophisticated investors.
Described as an exit-orientated private equity platform, Cogress joins investors with tier one property developers. It judiciously vets each option to make sure the needs of both the investor and developer are met.
They have now completed 14 deals in the UK, cumulatively breaking the £200m GDV barrier. The firm’s steadily growing investor database has led to this level of investment being achieved. The ambition is to reach 1,000 qualified investors by the end of April.
All this comes at a time when analysts are warning of a possible slowdown in UK property. The rapid growth of Cogress, however, flies in the face of this, showing that investors aren’t being put off by gloomier forecasts and still see the market as a shrewd investment opportunity.
“We’ve broken the £200m in GDV in the UK faster than we expected and we’re obviously delighted,” Tal Orly, chief executive officer at Cogress UK, commented.
“This achievement underlines not only how hard the whole team has worked, but how buoyant and positive the market remains for investment.”
He added: “Our growth has been driven by the continued attraction of London residential property. We expect this trend to continue, but also for mixed-use and commercial property to improve throughout the year, including our own progress alongside the continued growth of the market.”
Cogress senior management team has completed 170 deals globally, worth a cumulative £900m. They plan to launch into mainland Europe this year.