Calendon Capital Management To Be Acquired By CBRE Group

Jun 9 2017 | 11:47pm ET

CBRE Group has agreed to acquire a majority interest in private equity and infrastructure specialist Caledon Capital Management as the company expands its footprint in the investment management business. 

Upon closing, Caledon will be renamed CBRE Caledon Capital Management and will operate as a separate business unit within the company’s CBRE Global Investors unit. 

The Caledon management team will continue to manage the business and will maintain significant long-term ownership in the company, CBRE said in statement. 

Headquartered in Toronto, Caledon manages $7 billion in assets for institutional investors deployed across direct investments, co-investments, secondaries and primary funds. 

“Investors are increasing their allocations to alternative investments, including real assets,” said Ritson Ferguson, CEO of CBRE Global Investors, in the statement. ”Caledon’s market-leading investment solutions are a logical extension to our existing suite of real estate and infrastructure investment solutions, enhancing our position as an industry leader.” 

“CBRE’s global reach and resources will improve Caledon’s access to more and larger quality investment opportunities around the world. This will enhance our ability to continue to deliver attractive returns for our clients as infrastructure investing becomes increasingly global,” added David Rogers, founding partner of Caledon. 

Terms were not disclosed. The transaction is expected to close later this year and remains subject to regulatory approval and other customary closing conditions. 

CBRE Global Investors is an independently operated affiliate of CBRE Group. It is one of the world’s largest real estate investment management firms with $86.5 billion in AUM as of March 31, 2017. CBRE Group, meanwhile, is the world’s largest commercial real estate services and investment firm based on 2016 revenue. 

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