(Read more on the debt and equitymarkets.)

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NEWPORT BEACH, CA-Not quite a year ago Buchanan Street Partnersbegan exploring the idea of bringing in a third-party equitypartner. Around the same time, Trust Company of the West began itsinitiative to enter the real estate market. Now the two have cometogether in a strategic deal that gives Los Angeles-based TCW a 51%stake in Buchanan. Both parties declined to comment on the deal,citing SEC regulations. Financial details of the transaction arebeing kept private.

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According to industry sources, Buchanan Street Partners, led bypresident and CEO Robert Brunswick, talked to a number of firms,retained an investment bank and talked with strategic investors,such as insurance companies, domestic banks and foreign banks, inits bid to make this strategic play--and TCW had all the boxeschecked.

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TCW, with approximately $150 billion in assets under management,is a wholly owned subsidiary of Soceite Generale, giving BuchananStreet access to international markets. The deal is also a win-winfor Buchanan because it allows the company to retain its name andits Newport Beach headquarters, an industry source tellsGlobeSt.com. "[Buchanan] will also retain all discretion over allthe company's investments," the source adds.

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The TCW-Buchanan deal also gives Buchanan, with approximately$2.5 billion in assets under management, a better distributionchannel to raise capital in the future.

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In addition to its Newport Beach headquarters, Buchanan hasoffices in Los Angeles, San Francisco, Chicago and Atlanta. It isalso set to open an office in New York City, and expand its Chicagoand Atlanta presence.

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