The investment expands Draycott's focus into private equity and real estate, building on recent activity in these sectors and complementing ongoing acquisitions.

The ECS acquisition is subject to definitive agreements and regulatory approvals, including non-opposition from the Portuguese Securities Market Commission (CMVM).

The partnership and acquisitions indicate a broader consolidation strategy that already includes the June acquisition of Square Asset Management, a major independent manager of open-ended REIT funds in the Iberian Peninsula.

Draycott has taken a minority stake of less than 10% in Golden Wealth Management, a leading independent wealth manager in Portugal, with over €2.3 billion under management.

Draycott announced the acquisition of ECS from Davidson Kempner, adding properties in the Algarve and the Palácio do Governador Hotel in Lisbon to its portfolio, with Davidson Kempner remaining a strategic partner.

Since the start of 2026, Draycott has been pursuing large-volume acquisitions, including the initial purchase of Square Asset Management, a real estate fund.

Draycott, founded in 2019 by João Coelho Borges, now manages more than €3 billion in assets, with Golden Wealth Management overseeing over €2 billion.

The deal with ECS was confirmed to Bloomberg, though the exact stake value was not disclosed.

This move strengthens Draycott’s platform to originate and execute larger-scale and more complex transactions, expand its base of national and international investors, and support growth in the Iberian market for alternative assets.

Draycott’s strategy includes expanding into alternative investments beyond core areas like private equity and real estate, signaling broader consolidation and scaling ambitions.