Acquisition Expands Suite of Infrastructure Investment Programs
LOS ANGELES--(BUSINESS WIRE)--Aug. 9, 2017--
CBRE Group, Inc. (NYSE:CBG) today announced that it has completed the
acquisition of a majority interest in Caledon Capital Management Inc.
(Caledon), a Toronto-based investment management business specializing
in private infrastructure and private equity investments.
Caledon will now operate as CBRE Caledon Capital Management Inc. (CBRE
Caledon), a separate business unit within CBRE’s independently operated
investment management subsidiary, CBRE Global Investors. The Caledon
management team will continue to manage the business and will maintain
significant long-term ownership.
CBRE Caledon manages approximately US$7 billion (over CA$9 billion) of
assets for institutional investors through a combination of direct
investments, consulting assignments, co-investments, secondary
investments and primary fund investments. CBRE Caledon’s private
infrastructure and private equity investments complement the suite of
investment solutions offered by CBRE Global Investors and its listed
equity arm, CBRE Clarion Securities.
“Infrastructure is a strategic component of an allocation to real
assets, and we expect client demand for it will continue to increase,”
said Ritson Ferguson, CEO of CBRE Global Investors. “The CBRE Caledon
team has deep experience and a strong track record investing around the
globe, so this acquisition is important in helping us meet our clients’
“The powerful CBRE platform will enable us to expand the range of
investment solutions we can deliver to investors as we work to continue
achieving outstanding performance for clients,” said David Rogers,
Founding Partner of CBRE Caledon.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company
headquartered in Los Angeles, is the world’s largest commercial real
estate services and investment firm (based on 2016 revenue). The company
has more than 75,000 employees (excluding affiliates), and serves real
estate investors and occupiers through approximately 450 offices
(excluding affiliates) worldwide. CBRE offers a broad range of
integrated services, including facilities, transaction and project
management; property management; investment management; appraisal and
valuation; property leasing; strategic consulting; property sales;
mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Global Investors
CBRE Global Investors, an independently operated affiliate of CBRE
Group, Inc., is one of the world’s largest global real asset investment
management firms with $98.9 billion in assets under management* on a
combined pro forma basis, as of June 30, 2017, to reflect the completion
of the acquisition of a majority stake in Caledon Capital Management
Inc. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real
asset-related investments with respect to which CBRE Global Investors
provides, on a global basis, oversight, investment management services
and other advice, and which generally consist of investments in real
assets; equity in funds and joint ventures; securities portfolios;
operating companies and real asset-related loans. This AUM is intended
principally to reflect the extent of CBRE Global Investors' presence in
the global real asset market, and its calculation of AUM may differ from
the calculations of other asset managers.
About CBRE Caledon Capital Management Inc.
CBRE Caledon is a leading infrastructure and private equity solutions
provider. The firm seeks to create long-term value for its clients by
accessing and managing high-quality investment opportunities and
building comprehensive and customized infrastructure and private equity
portfolios. CBRE Caledon’s business model is to combine direct
investments, co-investments, secondary investments, and primary fund
investments in a manner to suit each client’s unique investment
objectives. The firm currently provides its services through customized
separately managed accounts, portfolio management advisory solutions and
pooled funds. Since its inception in 2006, the CBRE Caledon team has
grown to over 30 people and manages over CA$9 billion of assets on
behalf of 15 clients across North America.
Certain of the statements in this release regarding the acquisition of
the investment management assets and operations of Caledon Capital
Management Inc. (Caledon) that do not concern purely historical data are
forward-looking statements within the meaning of the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements are made based on our management’s
expectations and beliefs concerning future events affecting us and are
subject to uncertainties and factors relating to our operations and
business environment, all of which are difficult to predict and many of
which are beyond our control. Accordingly, actual performance, results
and events may vary materially from those indicated in forward-looking
statements, and you should not rely on forward-looking statements as
predictions of future performance, results or events. Numerous factors
could cause actual future performance, results and events to differ
materially from those indicated in forward-looking statements,
including, but not limited to, our ability to successfully integrate
Caledon with the existing operations of CBRE Global Investors as well as
other risks and uncertainties discussed in our filings with the U.S.
Securities and Exchange Commission (SEC). Any forward-looking statements
speak only as of the date of this release. We assume no obligation to
update forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information, except to the extent required by applicable securities
laws. If we do update one or more forward-looking statements, no
inference should be drawn that we will make additional updates with
respect to those or other forward-looking statements. For additional
information concerning factors that may cause actual results to differ
from those anticipated in the forward-looking statements and other risks
and uncertainties to our business in general, please refer to our SEC
filings, including our Form 10-K for the fiscal year ended December 31,
2016, and our Form 10-Q for the quarter ended June 30, 2017. Such
filings are available publicly and may be obtained from our website at www.cbre.com
or upon request from the CBRE Investor Relations Department at firstname.lastname@example.org.
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Source: CBRE Group, Inc.
CBRE Group, Inc.