CBRE Group has inked a deal to acquire a majority interest in Caledon Capital Management, a Toronto-based investment management business specialising in private infrastructure and private equity investments.
Caledon’s team of more than 30 people in Toronto manage around $7 bn (€6.2 bn) of assets for institutional investors, through a combination of direct investments, co-investments, secondaries and primary funds.
'CBRE’s global reach and resources will improve Caledon’s access to more and larger quality investment opportunities around the world. This will enhance our ability to continue to deliver attractive returns for our clients as infrastructure investing becomes increasingly global,' commented David Rogers, founding partner, Caledon.
'Investors are increasing their allocations to alternative investments, including real assets,' said Ritson Ferguson, CEO, CBRE Global Investors. 'Caledon’s market-leading investment solutions are a logical extension to our existing suite of real estate and infrastructure investment solutions, enhancing our position as an industry leader.'
Upon closing, Caledon will be renamed CBRE Caledon Capital Management Inc. and will operate as a separate business unit under CBRE’s independently operated investment management subsidiary, CBRE Global Investors.
Closing is expected to occur later this year and is subject to regulatory approval.
