BlackRock has completed the acquisition of private equity real estate investor MGPA, in a deal that will increase its real estate business to $23.5bn (£14.7bn).
The move will bring together BlackRock’s debt and equity investment capabilities with MGPA’s exposure to markets in Europe and Asia. There is “virtually no overlap” in the offerings of the two companies, a company statement said.
Jack Chandler, BlackRock’s global head of real estate, said: “This transaction shows our commitment to offer investors access to the most attractive markets worldwide. The combined business will house some of the most talented and experienced real estate investment professionals and most 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.”
Global investment management giant BlackRock has assets of $3.9trn under management.
