Asset manager ARA Dunedin has struck a deal to buy the European real estate investment management business of InfraRed Capital Partners.
The division, which has about $1.4bn (£1bn) under management, was put up for sale by Sun Life, which bought InfraRed in 2019.
Werner von Guionneau, chief executive of InfraRed, said: “Following a strategic review, we concluded that our European real estate business would be best served for the future under a new ownership. This transaction will create a win-win situation for all stakeholders by ensuring continuity and stability for the team, leveraging ARA’s competencies and footprint.”
InfraRed Capital Partners was advised by Fenchurch Advisory Partners and Weil, Gotshal & Manges. ARA Dunedin was advised by Panmure Gordon and Jones Day.
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