Allied World Assurance Company Holdings has announced an investment agreement with Blue Vista Capital Management, a Chicago-based real estate private equity firm.
Blue Vista invests across real estate asset classes and capital structures through limited partnerships and separate accounts.
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Allied World’s investment will be made through Allied World Financial Services, Inc. ("AWFS"), a subsidiary of Allied World that invests in businesses intended to complement and diversify Allied World’s revenue streams.
Under the terms of the transaction, AWFS acquired a minority interest and certain shareholder rights in Blue Vista, and agreed to provide growth capital for the expansion of Blue Vista’s real estate investment platform.
Blue Vista will manage $225 million of Allied World’s investment portfolio to be deployed over the next several years through various real estate investments, including their existing middle market co-investments and student housing strategies.
The CenterCap Group, LLC advised Allied World on the transaction.
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By GlobalDataJohn Gauthier, President of AWFS, commented, "This is Allied World’s first foray into investing in the real estate sector and real estate asset management. We selected Blue Vista as a partner based on their prudent investment strategy, the expertise of their management team and their consistent record of success."
Scott Carmilani, President and Chief Executive Officer of Allied World, added, "This strategic partnership is complementary to our existing asset management relationships, and we are excited to have the opportunity to work with Blue Vista’s principals and long-term real estate investors, Peter Stelian and Robert Byron."
"This is a truly unique opportunity for us as a firm," said Peter Stelian, CEO and co-founder of Blue Vista. "We are honored that Allied World has selected us for this strategic alliance; it serves as testament to the quality of relationships that we have built with our investors and operating partners as well as recognition of all of the hard work of our terrific team of employees."
"This opportunity will further enhance our existing investment model by providing us significant capital for our current products, new funds, as well as the ability to launch new initiatives. Allied World has a tremendous reputation in the industry and we are excited to help expand their investment platform."
