• Sat. Oct 16th, 2021

Invesco acquires real estate debt assets, team from GAM

Invesco Real Estate agreed to acquire all of GAM Investments’ real estate debt assets along with its real estate debt team, according to a GAM spokeswoman.

Terms of the deal were not disclosed. Along with a team of seven that was led by investment director Andrew Gordon, 170 million Swiss francs ($186 million) in assets under management will be moved to Invesco, the spokeswoman said.

Mr. Gordon was named head of European real estate debt, reporting to Andy Rofe, managing director for Europe at Invesco Real Estate.

“The dynamics shaping the European debt market are very attractive, and we are keen to fast track our European offering with our new debt team. This gives us highly experienced professionals and asset class momentum from day one, with a view to developing the debt proposition further,” Mr. Rofe said in a news release.

Invesco Real Estate had $79.8 billion in assets under management as of June 30. In Europe, the firm had $14.6 billion in assets under management.

“Over an extended period, we identified the key benefits that deeper and broader real estate equity market experience would bring to the future growth of our real estate debt team,” GAM said in an emailed statement. “With this in mind, we identified Invesco Real Estate as an ideal fit, owing to their global real estate capabilities and excellent complementary culture for the team.”