American asset management firm BlackRock has agreed to acquire MGPA, an independently-managed private equity real estate investment advisory company in Asia-Pacific and Europe, for an undisclosed sum.

MGPA, which has 13 offices in Asia Pacific and Europe, had $12 billion in asset under management (AUM) as of 31 March 2013. It manages real-estate funds and separately managed accounts for institutional investors.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

BlackRock said that there is ‘virtually no’ overlap of people or products within the two businesses.

The asset manager added that the planned deal will swell its real estate AUM to $25 billion, and give it investment teams in the world’s top six markets, which represent 75% of the commercial real estate investable universe.

"Today’s agreement advances BlackRock’s growth strategy in Asia-Pacific and Europe, where we are seeking to enhance our local offerings and build on the firm’s real estate experience," said Jack Chandler, global head of real estate for BlackRock.

"It further strengthens our ability to offer clients an unrivaled set of solutions to the challenges of a low-return, high volatility environment, including access to MGPA’s top-performing investment teams and exceptional capabilities in key markets," Chandler added.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The transaction is expected to close in the third quarter of 2013, subject to customary regulatory approvals and closing conditions. The financial impact of the transaction is not material to BlackRock earnings per share. Terms were not disclosed. MGPA was advised by Berkshire Capital Securities LLC.