BlackRock completes MGPA acquisition
BlackRock has completed the acquisition of MGPA, creating a combined $23.5 billion global real estate investment platform as of the end of June 2013. MGPA has raised approximately $8.6 billion of equity through 11 private real estate funds, including an opportunistic fund series focused on Asia and Europe.
In its announcement on Oct. 4, BlackRock said its acquisition of MGPA created a business with $23.5 billion of assets, managed on behalf of approximately 700 investors of various types. The combined platform sees the emergence of a business with more than 400 staff across 18 offices and 13 countries.
MGPA will now form part of BlackRock Real Estate, the asset manager’s existing real estate business, which forms part of BlackRock Alternative Investors, a division accounting for about $120 billion of the $3.85 trillion of assets currently on BlackRo