BlackRock to acquire $12bn real estate firm MGPA

BlackRock has agreed to acquire private equity real estate adviser firm MGPA for an undisclosed sum.

MGPA is focused on real estate funds management, co-investments and separate account mandates for institutional investors, offering products across the risk/return spectrum, including development, and had $12bn in AUM as of 31 March 2013. The firm has 13 offices in Asia Pacific and Europe, and will significantly extend BlackRock’s real estate investment capabilities in these regions, the group said. BlackRock added there is "virtually no" overlap of people or products within the two businesses. The combined platform will also help grow MGPA’s business by leveraging BlackRock’s dist...