Fundraising

Ex-Doughty man Mogull launches own firm

Benson Elliot Capital Partners, the new private equity real estate vehicle of former Doughty Hanson property chief Marc Mogull, has launched in London with €264m of commitments to its first fund.

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Marc Mogull, until last year Doughty Hanson’s head of real estate investment, has launched his own private equity real estate firm, Benson Elliot Capital Management, with €264m of capital.
 
News of the closing appeared in The Financial Times earlier this year, but a market source confirmed that Mogull launched Benson Elliot in April with an office in London. The firm has since held a first close of €264 million ($338 million) with commitments from international investors.
 
The new vehicle, Benson Elliot Real Estate Partners II, will invest in property in the UK, Germany, France, Italy and eastern Europe. 
 
Mogull left his position as head of real estate at Doughty Hanson last summer after seven years at the London-based private equity firm. While there, Mogull was responsible for investing the firm’s first $632 million (€493 million) fund, Doughty Hanson & Co Real Estate.
 
Doughty Hanson is currently marketing its second real estate fund, which recently held a first close of $166.5 million, according to PEO’s sister magazine Private Equity Real Estate. Once fully invested, Doughty’s new fund is expected to be roughly the same size as Fund I.