Transactions - FEBRUARY 6, 2018

Macquarie Infrastructure, GLL in €10.6b merger

by Andrea Zander

Macquarie Infrastructure and Real Assets (MIRA), a division of the Macquarie Group, has acquired GLL Real Estate Partners, the Munich-based real estate fund manager.

GLL will become the real estate equity investment platform for MIRA in Europe and the Americas (excluding Brazil) operating under its own brand.

The terms of the transaction remain confidential.

GLL’s founding partners, Rainer Göebel and Gerd Kremer, as well as Dana Gibson, managing director, will continue to lead the business and ensure continuity and stability for staff, clients and business partners.

With €7 billion ($8.6 billion) of assets under management and a team of over 130 experienced real estate professionals based in Europe, the Americas and South Korea, GLL’s deep expertise and established investor base will provide MIRA with significantly enhanced capabilities and immediate presence and scale in the real estate sector.

GLL’s current portfolio consists of 100 property investments and development projects across the office, retail and industrial real estate sector, with 44 percent of the portfolio located in Europe, 51 percent in the United States and 5 percent in Latin America. Following the transaction, MIRA and GLL will together manage approximately €10.6 billion ($13.1 billion) of real estate assets globally on behalf of investors.

The transaction is subject to regulatory and merger approvals, and is expected to close in second quarter 2018.

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