BentallGreenOak (BGO) announced on Thursday that it has closed on the acquisition of Metropolitan Real Estate Equity Management from global investment firm The Carlyle Group.
The deal combines BGO’s Core, Core Plus, Value Add and Debt strategies with Metropolitan’s integrated primary, secondary and co-investment real estate strategies, to create a combined real estate platform with $55 bn in assets under management.
Within BGO’s real estate platform, Metropolitan will operate under the name BGO Strategic Capital Partners and will continue to run the business from offices in New York, Hong Kong and London. The firm has roughly $2 bn of assets under management.
‘Through the creation of BGO Strategic Capital Partners, we are drawing on the exceptional capabilities of a global market leader in the secondaries and co-investment markets to offer a further diversified range of global investment strategies and opportunities for our clients around the world,’ said Sonny Kalsi, Chief Executive Officer of BentallGreenOak. ‘We are committed to investing the resources and capabilities of our global real estate platform to unlock the multiple drivers for growth and additional scale that we envision for this part of our business. BGO’s leadership team are thrilled to be working alongside Sarah Schwarzschild, John So, and the impressive team of investment professionals that they have assembled to build a market leader for the long term.’
