BlackRock has completed the acquisition of MGPA, an independently-managed private equity real estate investment advisory company in Asia-Pacific and Europe, creating a combined US$23.5 billion global real estate investment platform serving a diverse client base of about 700 investors.
The combined platform of over 400 on-the-ground real estate professionals in 18 offices across 13 countries will operate under the BlackRock’s brand.
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The business will offer investors access to the world’s top six markets which represent 75% of the investable commercial real estate universe.
Following the acquisition, BlackRock now manages a diverse suite of real estate funds, including real estate equity and debt, REIT securities, open-ended and close-ended funds, and separate account mandates designed to meet client-specific goals and investment objectives.
Jack Chandler, BlackRock’s global head of real estate, said: "The combined business will house some of the most talented and experienced real estate investment professionals and attractive funds in the industry, and we are extremely well-positioned to help clients meet their objectives and liabilities in a low yield and volatile world."
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