TORONTO, ONTARIO—Mark Rose, Chair and CEO of Avison Young, says that Vancouver, BC-based Tricor Pacific Capital, Inc., a leading North American private equity firm, has made a second growth-capital investment in the common shares of Avison Young.

The investment will strengthen Avison Young's considerable equity base and investment capabilities. The funds are earmarked for continued growth in Avison Young's global footprint and service-line capabilities. Terms of the transaction, which closed on August 19, were not disclosed.

This investment follows Tricor's $40-million investment in Avison Young's common stock in October 2011, which was used to fund the real estate services firm's aggressive growth and expansion plan.

“We thank Tricor for its continued confidence in our growth strategy, and for partnering with us in the first phase of our global expansion program, which exceeded all expectations,” comments Rose. “We are delighted that Tricor has decided to make an additional investment in Avison Young, to assist us in the ongoing execution of our compelling strategy. Our collective vision and goals for the future of Avison Young are completely aligned. Through its support, Tricor will play a vital role in the next stage of Avison Young's growth.”

This latest investment will allow Tricor to expand on its meaningful minority stake in Avison Young through the purchase of additional common shares side by side with the current principals and employee shareholders of the company, thus maintaining Avison Young's unique position as a private, Principal-managed and led company. Tricor will retain two board positions within Avison Young.