Large Platform Events | Issue 24.41

 

Summary of Transaction Headlines

Business Wire | “Ares Management Corporation to Acquire GCP International for $3.7 Billion”

Ares Management Corporation (NYSE: ARES) (“Ares”) announced that it has entered into a definitive agreement to acquire the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China (“GCP International”), and existing capital commitments to certain managed funds, in a transaction valued at $3.7 Billion. The consideration includes approximately $1.8 Billion in cash and approximately $1.9 Billion in Ares Class A common shares, subject to customary adjustments.

IPE Real Assets | “Azora and Advenir Partner to Invest Over $3 Billion in US Rental Homes”

Investment firm Azora and real estate investor Advenir have formed a partnership to invest over $3 Billion in the next five years in rental homes in the US. The Azora Advenir venture focused on creating affordable rental housing in key US markets will be a vertically integrated platform encompassing acquisition, development, asset management, property management, and fund services, the companies said. Azora Advenir is expected to develop at least 10,000 new single-family rental homes and acquire 5,000 existing units.

IREI | “Harrison Street Holds $2.5 Billion Final Close for Ninth U.S. Opportunistic Fund”

Harrison Street announced the final close of its ninth U.S. opportunistic real estate fund, Harrison Street Real Estate Partners IX, and its associated co-investment vehicles, securing approximately $2.5 Billion in equity commitments. With more than $7 Billion in buying power, the fund received strong support from existing fund series investors, who accounted for approximately 60 percent of total commitments, while also attracting new institutional investors globally that include a diverse set of public and corporate pension plans, Taft-Hartley plans, sovereign wealth funds, foundations and endowments, and insurance companies.

IPE Real Assets | “Border to Coast Launches £1.2 Billion ($1.5 Billion USD) UK Real Estate Fund With LGPS Trio”

Border to Coast Pensions Partnership has launched a £1. Billion ($1.4 Billion USD) UK real estate fund alongside three of its Local Government Pension Scheme (LGPS) partner funds. The UK’s largest LGPS pool has collaborated with Tyne and Wear Pension Fund, Cumbria Pension Fund and South Yorkshire Pensions Authority to pool 65 existing holdings to seed the UK real estate fund. Border to Coast, which holds responsibility for the strategic direction of the fund, said it has appointed Abrdn to implement the strategy at portfolio level.

Investing.com | “Apollo Secures €1 Billion ($1.1 Billion USD) Investment With Vonovia for Growth”

Apollo Global Management, Inc. (NYSE: APO) has entered into a definitive agreement to invest approximately €1 Billion ($1.1 Billion USD) for a minority stake in an affiliate of Vonovia SE, Germany’s leading residential real estate company. This transaction marks the third major deal between the two entities, with Apollo’s total commitments to Vonovia now reaching €3 Billion ($3.3 Billion USD).

Yahoo Finance | “Blue Owl Capital Considers Acquiring IPI Partners for Roughly $1 Billion”

Blue Owl Capital Inc. is in discussions to buy IPI Partners, a firm that invests in data centers and other digital infrastructure, for approximately $1 Billion. This was reported by Bloomberg, citing people with knowledge of the matter. IPI Partners, which is led by Managing Partner Matt A’Hearn, is a joint venture of Iconiq Capital and Iron Point Partners.

IPE Real Assets | “HIG Takes Controlling Stake in European Data Center Operator PolarDC”

HIG Capital has acquired a controlling stake in European data center operator PolarDC Group for an unspecified sum. The $65 Billion global alternative investment firm said its affiliates have acquired an interest in PolarDC, a company that develops, owns, and operates data center infrastructure. Lian Group, an early-stage investor in PolarDC, will retain a minority stake in the company following HIG’s investment.

IREI | “Hines Appoints Thomas Ummels as Head of Development and Construction for the Netherlands”

Hines announced the appointment of Thomas Ummels as Managing Director and Head of Development and Construction for the Netherlands. This follows the recent appointment of Jan Hein Tiedema as Country Head for the Netherlands. Before joining Hines, Ummels worked as Chief Development Officer for Dutch real estate developer EDGE (previously OVG), spending 20 years in various roles focused on development and construction.

IREI | “Nuveen Real Estate Appoints Morten Olesen as Head of Housing and Alternatives in Germany”

Nuveen Real Estate announced the appointment of Morten Olesen to the role of Senior Director, Head of Housing and Alternatives in Germany, building on the firm’s strong track record in the European living sector. Olesen will be responsible for overseeing the expansion of Nuveen Real Estate’s residential and alternatives platform in Germany, sourcing and executing investment opportunities across the risk spectrum in the region. Based in Frankfurt, Olesen will report to Jasper Gilbey, Head of Housing and Alternatives in Europe.

Market Screener | “SEGRO Appoints Rich Corbridge as Chief Information Officer”

SEGRO appointed Rich Corbridge as its first Chief Information Officer. In his new role, Corbridge is tasked with overseeing the delivery of the group’s digital and technology strategy, driving innovation and leveraging digital solutions to enhance operational efficiency processes, customer experience, and sustainable growth. He will report to Chief Financial Officer Soumen Das.

IREI | “Hines Appoints Jan Hein Tiedema as New Country Head for the Netherlands”

Hines, the global real estate investor, developer, and manager, has announced the appointment of Jan Hein Tiedema as Senior Managing Director and Country Head for the Netherlands. Tiedema is an experienced real estate executive with a deep knowledge of the Dutch market. Beginning his career at Jones Lang LaSalle, where he worked at the agency team in Amsterdam, he then spent 15 years with real estate developer EDGE (formerly OVG). 

Property Week | “Nido Living Appoints New CFO as Part of Wider Expansion Plans”

Student-led accommodation specialist Nido Living has appointed Ryan Lee as CFO as the company gears up for a major expansion drive. Ryan’s appointment is central to this plan, bringing his extensive experience in real estate and financial leadership to Nido’s Executive Team. Joining Nido in September, Ryan will work closely with CEO Carlo Matta and COO Darren Gardner and is based at Nido’s headquarters in Amsterdam, Netherlands.

IREI | “Knight Frank Announces Craig Shute as CEO of Asia Pacific”

Knight Frank announced the appointment of Craig Shute as CEO of Asia Pacific (APAC), effective April 1, 2025. Shute is now CEO of the Greater China business and will be taking over from Kevin Coppel, who will retire from the partnership in March 2025. Shute joined Knight Frank last year and has more than 25 years of experience in the real estate industry, having held senior leadership roles across Australia, Malaysia, Hong Kong SAR, and the USA.