Federated Hermes has reached a definitive agreement to acquire 80 percent of FCP Fund Manager, a privately held U.S. real estate investment manager.
FCP specializes in investing across the U.S. multifamily asset class deploying capital through predominantly equity and several debt vehicles. FCP has invested in, operated and/or financed more than $14.6 billion in gross asset value since inception, including more than 75,000 multifamily apartment units.
Upon completion of the transaction, FCP and its 75-plus member team will continue to manage investment portfolios and other aspects of the business from its current locations. FCP has six U.S. offices, including its headquarters in Chevy Chase, Maryland, and deep local coverage of 19 priority U.S. markets that provide meaningful local knowledge and capability in high-growth areas of the country.
The aggregate purchase price of up to $331 million includes $215.8 million in cash consideration and $23.2 million in Fed
