Mészáros’ company buys up a real estate investment fund

July 29, 2017

444.hu reports that Konzum Befektetési Alapkezelő, an investment fund owned by Lőrinc Mészáros (pictured) and his business partner, has taken over Diófa Ingatlan Befektetési Alap, a real estate investment fund with assets valued at HUF 11.9 billion (USD 45.9 million).

Mészáros’ latest acquisition owns

  • the FHB Bank headquarters in Budapest,
  • the Yacht Camping in Balatonalmádi,
  • a 15.5-acre site under development in Budakeszi, and
  • a 15.8-acre property in the center of Balatonalmádi.

According to 444.hu, Diófa had earlier been part of oligarch-in-exile Zoltán Spéder’s business empire.

Mészáros’ ludicrous rise from rags to riches since 2010 has quickly made him the fifth-richest person in Hungary. His business empire is vast, covering publishing, television, radio, agriculture, all kinds of construction, railroad development, banking, campsites, hotels and most recently energy.

This week, Bloomberg Businessweek published an article outlining how Konzum Nyrt., a publicly-traded company closely affiliated with Mészáros, is the world’s best-performing stock. Within two months of news breaking that Mészáros would buy into Konzum, the price of the company’s shares had quadrupled; in July they peaked above 2,800 forint — a gain of 5,400 percent for the year.