Portugal

Draycott buys ECS from Davidson Kempner

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Briefings

Portuguese asset management firm ECS was acquired by American private equity firm Davidson Kempner in late 2022 for approximately 850 million euros, with Draycott taking over the management role. The transaction involves regulatory approvals including a securities commission approval, and Draycott currently manages over 3.5 billion euros in assets. The acquisition expanded Draycott's portfolio to include significant real estate and alternative assets, while ECS remained a top-tier asset manager in the tourism sector. Key facts include the specific acquisition price, the date of the sale, and the current asset management figures for both firms.

Key points

• Davidson Kempner acquired ECS from Portuguese firm in late 2022 for approximately 850 million euros.
• Draycott manages over 3.5 billion euros in assets following the acquisition of Square AM.

Context

ECS is a leading asset manager in the tourism sector, having acquired numerous real estate assets during the 2008 financial crisis. The acquisition by Davidson Kempner, a major American private equity firm, significantly expanded Draycott's capabilities in originating and executing complex operations across multiple asset classes.

Limitations

The exact final transaction value was not disclosed, and while the acquisition date is known, specific details about the regulatory timeline and the exact moment of the sale are not fully detailed in the available information.

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