CenterSquare Investment Management Acquires Debt Manager
Upon acquiring RCG Longview, CenterSquare Investment Management will manage a total of $12.5 billion.
NEW YORK – CenterSquare Investment Management has is set to purchase RCG Longview, a private real estate debt manager. The transaction is expected to be completed by the end of 2019.
CenterSquare Investment Management plans to utilize the combined firms’ complimentary investment strategies and apply RCG Longview’s real estate debt capabilities, to expand its platform and investment offerings for new and existing clients.
Following this acquisition, CenterSquare Investment Management will manage $12.5 billion across private equity real estate, private real estate debt, listed real estate and listed infrastructure.
The firm is continuing to expand its real estate assets footprint through organic growth and select inorganic acquisitions. CenterSquare Investment Management additionally completed a management buyout from the Bank of New York Mellon in early 2018, alongside Lovell Minnick Partners, a private equity firm.
CenterSquare Investment Management CEO and CIO, Todd Briddell has expressed the company’s enthusiasm to welcome the RCG Longview to their organization.
Founder, Michael Boxer and principal, Richard Gorsky of RCG Longview led the transaction. Berkshire Global Advisors LP acted as financial advisor to RCG Longview and Stroock & Stroock & Lavan LLP acted as legal advisor to the firm. Stradley Ronon Stevens & Young LLP served as legal advisor to CenterSquare Investment Management. The financial terms of the private deal were not disclosed.
RCG Longview, headquartered in New York City, is a private real estate investment manager which specializes in private real estate debt strategies and solutions for owners and operators. Founded in 1999, the firm manages $1.8 billion of private real estate debt and equity investments, and has completed a total capitalization of more than $4 billion across more than 550 transactions.
CenterSquare Investment Management, founded in 1987, is a global real assets investment manager that focuses on managed real estate and infrastructure strategies. The firm manages $9.5 billion of real estate and infrastructure securities and $1.1 billion of private equity real estate investments, for a total of $11 billion in assets under management and private equity real estate investments.