Thu, 22/08/2019 - 10:10
CenterSquare Investment Management, a global real assets investment manager, is to purchase private real estate debt manager RCG Longview.
Founded in 1999 and headquartered in New York City, RCG Longview provides debt capital solutions for owners and operators of real estate. To date, the Firm has completed over 550 transactions with a total capitalisation of over USD4 billion. Founded in 1987, CenterSquare Investment Management has approximately USD11 billion in assets under management in US and global listed real estate and infrastructure, and private equity real estate investments.
“We are excited to welcome the RCG Longview team to our organisation,” says Todd Briddell, CEO and CIO of CenterSquare. “In addition to adding deep capabilities in real estate debt, the RCG Longview track record, reputation and culture are a terrific fit for CenterSquare. Under the leadership of Michael Boxer and Richard Gorsky, this transaction brings an exceedingly talented group of professionals to manage and grow the combined firm’s debt strategies. As a complement to our existing real assets platform, this transaction allows CenterSquare to selectively expand our best-in-class investment offerings to meet the evolving needs of our clients.”
“Joining CenterSquare will position our firm to continue growing our investment strategies, providing new opportunities for us to work with existing and new clients,” says Michael Boxer, Founding Partner at RCG Longview. “We were attracted to CenterSquare’s premier reputation, long and successful track record, and like-minded focus on the importance of people and relationships. We are excited to become part of the CenterSquare team and gain additional resources that will better serve our clients.”
The acquisition of RCG Longview follows CenterSquare’s management buyout from the Bank of New York Mellon in January 2018, in conjunction with Lovell Minnick Partners, a private equity firm focused on financial services companies. As an independent firm, CenterSquare has sought to expand its real assets footprint through organic growth and select inorganic acquisitions into new strategies. Following the acquisition, CenterSquare will manage in excess of USD12.5 billion across four key business lines – private equity real estate, private real estate debt, listed real estate and listed infrastructure.
Financial terms of the private transaction have not been disclosed. The transaction is expected to be completed by year end 2019.
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