BlackRock to acquire real estate firm MGPA

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, significantly extending BlackRock’s real estate investment capabilities in these regions, the group said. BlackRock added there is almost no overlap of people or products within the two businesses. The combined platform will also help grow MGPA’s business by leveraging BlackRock’s distribution ne...