CBRE Global Investors is moving into European real estate lending through the acquisition of Laxfield Capital.
The $106bn (€94.4bn) real assets fund manager, which has already begun to invest in real estate debt in the US, said Laxfield will operate as part of its EMEA platform.
Laxfield manages £818m (€939m) of debt investments in the UK.
CBRE Global Investors said the acquisition was “an important step” in its “strategy of offering clients an expanded array of real assets investment solutions in leading markets across the globe”.
The company moved into infrastructure through the acquisition of Caledon Capital Management in 2017, and this week IPE Real Assets reported on the growing pressure on global real estate fund managers to offer a full range of products, strategies and market coverage.
“With the acquisition of Laxfield Capital, we add in-depth knowledge of the commercial real estate debt business, an experienced team of professionals with a long-standing, excellent reputation and strong market profile,” said Sophie van Oosterom, CEO and CIO of CBRE Global Investors EMEA.
Laxfield’s executive team consists of managing director Emma Huepfl, head of investments Alexandra Lanni and fund manager Chris McMain.
Laxfield’s founder Adam Slater will continue to chair the debt business in a consultancy role.
Marco Rampin, who joined the EMEA business earlier this year from CBRE Capital Advisors, will also join the team and will continue to focus on the continental European debt business.
Laxfield’s leadership team said in a statement: “CBRE Global Investors is an excellent platform from which to serve our clients, accelerate growth and broaden our products into continental Europe.
“This felt like the right time for us to partner with the world’s leading commercial real estate services organisation.”