Reuben Brothers
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Reuben Brothers refers to the business interests of David and Simon Reuben. Reuben Brothers has various international departments and companies, headquartered in Switzerland its main activities are in real estate, private equity, and venture capitalism.
Contents
Background
The Reuben brothers migrated to the UK soon after the creation of Israel in 1948. They began new business activities and later they set up a family company for holding assets in the Russian metals market during the 1980s and 1990s. Through those activities, they accumulated substantial wealth[clarification needed], and at one point owned the world's largest aluminium company.
Present activities
By 2000, the Russian business environment was turning sour for them and they sold all their Russian assets and focused their business activities mainly in the UK property market, where they have a substantial portfolio[clarification needed] of debt-free assets. With others, they have been involved in financing a number of major acquisitions and also have investments in technology companies.
Today, their business activities revolve around real estate both in the UK and abroad, venture capital, and private equity. These are mainly split between two registered companies: Reuben Brothers (Assets and Management) and Aldersgate Investments (Investments)
In 2008, Reuben Brothers returned to the commodity business and expanding their mining and trading interests
Real estate: Reuben Brothers
Reuben Bothers more significant UK properties include: Millbank Tower; the John Lewis headquarters in Victoria; the American Express offices also in Victoria; Carlton House SW1; Academy House on Sackville Street; Connaught House on Berkeley Square; the massive flagship London Primark store on Oxford Street and prime Sloane Street shops.
Reuben Brothers purchased the Piccadilly estate in 2011, better known as the former Naval and Military Club, which comprises six freehold buildings in the center of Mayfair, which have a planning consent for a six-star hotel and private members' club.
Reuben Brothers have been involved in the regeneration of the Paddington area of London, which involves a 2,000,000 sq ft (190,000 m2) development scheme of offices and flats. They will include a 43-story residential tower – the tallest in the West End, where traditionally it has been hard to obtain planning permission for skyscrapers. Called Merchant Square, it will have 559 flats and more than 600,000 sq ft (56,000 m2) of office space. The project is part of an estimated 8 million sq ft of development round the railway station, much of which has already been built. An estimated 30,000 people will eventually work there.
Coincidentally, the Reuben Brothers are co-investors of D2 Jeans and Blue Inc clothing retailers with retail guru Sir Stuart Rose. The area of Paddington that the brothers are renovating, Merchant Square, also houses the London head offices of global retailing giant Marks and Spencer, where Sir Stuart was formerly Chief Executive.
The Reuben Brothers have 50:50 joint venture with Park Plaza Hotels & Resorts to develop a new apart-hotel under the 'art'otel' brand in Hoxton, in the City of London.
The company has been given the go-ahead to build three towers opposite Tate Britain. The development features a mix of apartments and an apart-hotel on the River Thames next to the Riverbank Park Plaza hotel. The development, designed by Foster & Partners, will see 1960s office building Hampton House demolished and replaced with the three towers, the highest of which stands at 27 storeys. Lua error in package.lua at line 80: module 'strict' not found.
Amongst others property assets that the Reuben Brothers own or have a significant stake in are London Oxford Airport, London Heliport, Luup, Travelodge Hotels, and Metro Bank.
Aldersgate Investments
Aldersgate Investments is the companies acquisition vehicle for buying operational companies in non-property related markets.
Via both companies, the Reuben Brothers continue to be one of the largest investors in luxury leisure group Orient-Express Hotels. The company also owns the Wellington Pub Company, the largest free-of-tie pub estate in the UK with approximately 850 tenanted pubs.
Global Switch
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The company are 100% owners of Global Switch, the largest wholesale carrier-neutral data centre provider in Europe and the Asia-Pacific region. Global Switch has ten data centres: six are located in Europe London, Amsterdam, Frankfurt, Paris and Madrid), with centres in Sydney and Singapore serving the Asia-Pacific market. The centres total around 3,100,000 sq ft (290,000 m2) of floor space and are occupied by a broad range of customers, global and national, large and small including government organisations, financial institutions, enterprises, global systems integrators, telecommunication carriers, managed service providers and other hosting businesses. Various initiatives are underway which will increase the overall floor space to around 4,000,000 sq ft (370,000 m2). Global Switch's chairman is John Corcoran, a former Multiplex executive, who has been with the company since 2007.
Horse racing
In December 2006, Aldersgate Investments made an offer of 200p per share for Northern Racing, completing the bid and taking it private again in April 2007.[1] In April 2012, Aldersgate Investments bought rival Arena Leisure. Proposed to be merged under the Arena Racing Company brand, the two companies together own 17 race courses in the United Kingdom, accounting for approximately 40% of UK racing fixtures, but still presently under the two separate brands.[2] The group is also a major shareholder in At The Races (ATR), the broadcaster taking UK and Irish racing to domestic andinternational audience.
Reuben Foundation
The family are well known for philanthropy in Israel and have a charitable wing, The Reuben Foundation, which donates mainly in the health care and education sectors through an initial endowment of $100 million. The family are active in the running of the foundation.
- In 2004, The Reuben Foundation completed a multimillion-pound project to build a Jewish school in North London; the school is called the N. Reuben primary school named after their mother N. Reuben School has over 250 students currently enrolled and was given a "stellar"oth th report by Ofsted.
- 2005 – The Reuben Foundation opened the largest breast cancer unit in the Meir hospital in Israel.
- 2008 – The Reuben Foundation opened another cancer clinic in Haifa, Israel, servicing all sectors of Israeli society.
- 2008 – The Reuben Foundation Great Ormond Street Hospital opened the largest cancer clinics for children in Europe. The centre was opened by Mayor of London Boris Johnson.
- 2010 – The Reuben Foundation together with Virgin Unite launched 'The Haiti Project' which raised substantial funds for the hurricane relief effort in that country.
- 2011 The Reuben Foundation together with the Mayor of London and Mayor of New York launched the "Team London" programme through a multimillion-pound endowment, to encourage volunteering across London.
- 2012 – The Reuben Foundation launched the Reuben Scholarship Program providing hundreds of free university scholarships at Oxford University, University College London and ARK SCHOOLS all in the UK
- 2012 – The Reuben Foundation launched the BFI (British Film Institute) Reuben Library
- 2013 – The Reuben Foundation agreed to fund the establishment of a major new business education facility at Oxford Spires Academy.
The brothers are a very well known generous donors in Israel. The Reuben Foundation also contributes to the Royal Marsden and The Princess Royal Trust for Carers. The foundation also sponsored the Daily Telegraph spirit of the community awards and are patrons of Tickets for Troops and actively supports the Prince's Trust and the Royal Parks Fund
References
External links
- Profile in The Guardian
- http://business.timesonline.co.uk/article/0,,9064-2220021,00.html
- http://www.thisismoney.co.uk/news/article.html?in_article_id=409816&in_page_id=2
- http://money.cnn.com/magazines/fortune/fortune_archive/2004/07/12/375898/index.htm
- http://www.reubenbrothers.com/Article74.html
- http://www.reubenbrothers.com/article70.html
- http://www.reubenbrothers.com/article46.html
- http://www.reubenbrothers.com/Article102.html
