PIC completed the acquisition of a 13% stale in Aradei Capital from EBRD for $50m.

PIC, an asset management firm, completed the acquisition of a 13% stale in Aradei Capital, a commercial real estate company, from European Bank for Reconstruction and Development, an international financial institution, for $50m. “We are proud to welcome the GEPF to the shareholding and look forward to a long-term partnership. This capital investment is key to funding our identified pipeline and we anticipate strong growth emerging from this global COVID-19 crisis. We expect such growth will be driven by a migration to commercial real estate with higher standards," Nawfal Bendefa, Aradei Capital CEO.