CBRE Group Inc (NYSE: CBG) has completed its acquisition of a majority stake in Caledon Capital Management, a Toronto-based portfolio management and advisory firm specializing in infrastructure and private equity investments. No financial terms were disclosed for the deal, which rebrands Caledon as CBRE Caledon Capital Management and makes it a separate entity within CBRE Global Investors, CBRE’s investment management unit. Caledon, which oversees $9 billion in assets, was founded in 2007 by Partner David Rogers. In June, Rogers told PE Hub Canada the acquisition will broaden his firm’s client list and increase its geographic footprint.
Photo: David Rogers, founding partner of Caledon Capital Management.
CBRE Group, Inc. Completes Acquisition of a Majority Stake in Caledon Capital Management Inc
Acquisition Expands Suite of Infrastructure Investment Programs
Los Angeles, CA, August 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’ needs.”
“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.
CBRE Group, Inc.
CBRE Global Investors
Photo courtesy of CBRE Caledon Capital