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KBB is a subsidiary of the 200-year old Kleinwort Benson, a leading merchant bank with principal activities in private banking, asset management and financial markets and corporate advisory services.
In 2013 European private-banking group Edmond de Rothschild won regulatory approval to launch a UK-focused merchant bank. Last year Robert Diamond, former CEO of Barclays PLC set up Atlas Merchant Capital in New York last year with former JC Flowers director David Schamis to invest in or advise banks and other financial firms.
The merchant bank typically works off a profit-participation model versus a conventional interest rate calculation.
Where the merchant banks have been even more successful, has been in their ability to lure huge sums of capital into the market.
But I am repeatedly asked how real estate merchant banks differ from Real Estate Investment Trusts (REITs).
Unlike a REIT, merchant banks are not "forced" to buy because they are sitting on a pool of money.
In 1994 we will see a significant rise in the amount of foreign capital that flows through real estate merchant banks. As such, we are forecasting renewed activity in the marketplace, particularly for deals in the $2 million to $25 million range.