GAM has acquired the $1.2bn real estate finance arm of London-based asset manager Renshaw Bay as it seeks to broaden its business.
The acquisition is expected to be finalised in October, subject to regulatory approvals, and will see ten investment specialists transfer to GAM under the leadership of Jon Rickert, head of real estate finance at Renshaw Bay. The management of the real estate strategies, related legal entities and contracts, and all existing client relationships, will also be transferred to GAM following the acquisition. Renshaw Bay was established in 2011 by Bill Winters, in partnership with Reinet Fund and RIT Capital Partners and focuses on commercial real estate loans in Western Europe. GAM's...
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