GI Partners launches Elystan Capital Advisers
GI Partners has backed the launch of Elystan Capital Advisers, a Munich-based investment firm targeting mortgage backed assets and the mortgage banking sector in the DACH region.
GI Partners provides investment capital from GI Partners Fund III, which closed at $1.9bn in October 2009.
Elystan is founded by Keith Fischer, Dr Robert Grassinger and Ulrich Kastner and is set up to invest in non-core and non-performing assets divested by the banking industry as well as the mortgage and real estate sector. Elystan has been working with GI Partners since June 2009 to pursue the acquisition of a bank to be used as a platform to expand and grow a mortgage lending business which can fill the gap in credit available to Mittelstand companies.
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