Large Platform Events | Issue 24.25

 

Summary of Transaction Headlines

Mingtiandi | “Ares Said in Talks to Invest in GLP’s Non-China Fund Business”

Ares Management, which has expanded its Asia presence through a series of acquisitions over the past four years, may be on the verge of its biggest buy yet, indicating that the US firm could acquire a stake in GLP’s fund management business outside of China. An acquisition of GLP Capital Partners’ business in Japan, Southeast Asia, Europe, the US, and Brazil would add around $66 Billion in assets to Ares’ existing $378 Billion under management, which cited people with knowledge of the discussions between the two companies.

IREI | “Rexford Industrial Announces Leadership Transition Plans”

Rexford Industrial Realty has initiated a process to recruit a new CFO. When the firm names a new CFO, Laura Clark, the company’s current CFO, will be promoted to the newly established role of COO. The company has initiated an executive search effort through Russell Reynolds Associates to identify and appoint a new CFO.

IREI | “CFO of British Land to Step Down”

Bhavesh Mistry, the CFO of British Land, has plans to step down. Mistry will join Kingfisher plc, the international home improvement company, as its CFO. He served as CFO of British Land since 2021 and was Deputy CFO of Tesco from 2018 to 2021. Before that, he held senior finance positions for more than two decades at a range of major companies, including Whitbread, Virgin Media, and Anheuser-Busch InBev.

Bisnow | “Nuveen Names William Huffman New CEO”

Nuveen named William Huffman as its new CEO, succeeding Jose Minaya, who was appointed to the position in 2020. Huffman was the President of Nuveen Asset Management and Head of Equities and Fixed Income prior to his promotion. Nuveen is the investment management arm of the Teachers Insurance and Annuity Association of America, or TIAA.

HousingWire | “CoStar Group Hires Freddie Mac’s Christian Lown as CFO”

Lown will report directly to CEO Andy Florance and will be responsible for the company’s financial functions. Freddie Mac‘s Chief Financial Officer, Christian Lown, will transition to the same position at CoStar Group on July 1. Lown informed Freddie Mac of his resignation on June 5 after four years working for the enterprise.