LONDON -- (BUSINESS WIRE) --

The BMB Group has invested an undisclosed amount into Paris and Luxembourg based Contrarian Capital Partners SA "Contrarian" and its advisory subsidiary, Beacon Hospitality Partners S.A.R.L."Beacon", thereby acquiring one of the real estate industry's leading advisory firms for Middle Eastern and Asian sovereign investors. As part of the transaction, Mr J. Gary Peters, Chairman and Founder of Beacon, will become Executive Director and Global Head of Real Estate at The BMB Group with responsibility for developing the Group's real estate principal investment and advisory businesses. The principal investment business of Contrarian Capital Partners SA will be run by The BMB Group which absorbs Contrarian's track record of investing over US$10 billion for clients that include some of the most prestigious families in the Middle East and Asia. Beacon Hospitality Partners S.A.R.L, which advises some of the most prominent Eastern sovereign wealth funds, will be branded BMB Beacon to be headquartered in Dubai. The acquisition is the first step in a major drive by The BMB Group to invest heavily in real estate around the world. It is the first of a series of management companies that The BMB Group intends to purchase over the next few months to increase real estate assets under management.

The BMB Group is one of the world's most exclusive investment and advisory firms with highly select clientele that includes prominent ultra high net-worth individuals, ruling families and sovereign investors from the Middle East and Asia. The Group was founded by prominent Asian entrepreneur, Mr Rayo Withanage and H.H. Prince Abdul Ali 'Yil-Kabier, a respected prince from Brunei's illustrious royal family, the oldest surviving royal line in the Islamic world.

Rayo Withanage, Executive Chairman of The BMB Group, stated:
"BMB Beacon demonstrates The BMB Group's intention to provide its clients with unique real estate opportunities around the world. The collective client base of BMB Beacon is second to none in terms of prestige and we are happy to grow this base to provide our clients with access to significant real estate opportunities that continue to elude the bulge bracket banks." He added, "The present economic environment provides enormous opportunities in real estate globally, where many existing advisory players have over-shopped assets and underserved clients."

Contrarian and Beacon have led some of the most high profile real estate transactions of recent years. Over the past 24 months, the firm led over US$1.6 billion of investments for a number of Sovereign Wealth Funds, governments, and royal family offices in Europe, the Middle East and Asia that included the expansion of the acquisition of 21 commercial and residential buildings in London and Paris. The firm led US$8 billion in investments, including advising members of the Taittinger Family in connection with Rothschild Private Banking and Trust for the sale of Société du Louvre / Groupe Taittinger to Starwood Capital for €2.3 billion. This portfolio included the Hotel Crillon, Hotel Louvre, Lutetia Hotel and Concorde Lafayette Hotel in Paris, the Martinez Hotel in Cannes and over 900 economy hotels in France. Contrarian continues to manage discretionary assets for several ruling families in the Middle East and serves as Chief Investment Advisor to private family offices, sitting on numerous Boards of companies active in the area of real estate.

Gary Peters, Chairman of Contrarian Capital Partners SA, commented:
"We are excited to become part of The BMB Group and combine our advisory and investment business and clientele with the capital and relationships of The BMB Group. We see The BMB Group as a visionary firm which truly understands the needs of Eastern investors who demand a degree of discretion, loyalty and cultural understanding that is scarce on Wall Street."

H.H. Prince Abdul Ali 'Yil-Kabier, commented:
"The combination of Rayo Withanage and Gary Peters will be a powerful force for transaction sourcing, fundraising and execution."

Through the acquisition of Contrarian and Beacon, The BMB Group now manages and advises on assets throughout the US, Caribbean, Latin America, the Middle East, Europe and Asia and is already working on a series of marquee acquisitions that will be announced over the next few months. The business will be run through offices in London, Paris, Monaco, Luxembourg, Bahrain, Riyadh and Beijing.

CONTACT:

Penrose Financial for BMB
Shona Prendergast
or
Karolina Adamkiewicz
or
Annabel Hudleston
Tel: +44 20 7786 4888
Email: bmb@penrose.co.uk