{"id":22530,"date":"2022-01-24T17:16:43","date_gmt":"2022-01-24T12:16:43","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=85759"},"modified":"2022-01-24T17:16:43","modified_gmt":"2022-01-24T12:16:43","slug":"colliers-to-invest-in-leading-infrastructure-investment-firm","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/colliers-to-invest-in-leading-infrastructure-investment-firm\/","title":{"rendered":"Colliers to invest in leading infrastructure investment firm"},"content":{"rendered":"
TORONTO and LONDON and NEW YORK, Jan. 24, 2022 (GLOBE NEWSWIRE) — Leading diversified professional services and investment management company, Colliers (NASDAQ and TSX: CIGI), announced today it has entered into an agreement to make a strategic investment in Basalt Infrastructure Partners LLP (\u201cBasalt\u201d), a leading transatlantic infrastructure investment management firm with more than $8.5 billion of assets under management. The transaction is subject to customary closing conditions and approvals and is expected to close in the second half of 2022. Financial terms were not disclosed.<\/p>\n
With offices in London and New York, Basalt specializes in mid-market, infrastructure equity investments across the utility, transportation, energy\/renewables, and communications sectors in Europe and North America. Since its inception in 2011, Basalt has consistently delivered superior returns to investors across its flagship series of closed-end funds and counts among its investors some of the world\u2019s largest public and corporate pension plans, sovereign wealth funds, endowments, insurance firms, and family offices.<\/p>\n
As part of the transaction, Colliers will acquire 75% of Basalt from its founders and a significant third-party financial investor. The senior leadership team will retain 25% of the equity and will continue to lead the organization under Colliers\u2019 unique partnership model. Basalt will also admit four additional members of its senior leadership team to the partnership. Once the transaction is completed, Colliers expects the annual run rate of management fee revenue to be between $65 and $70 million, Adjusted EBITDA of $35 to $40 million, and operating results to be significantly accretive.<\/p>\n
\u201cPartnering with Basalt\u2019s impressive leadership team builds upon our success with Harrison Street and complements the rest of our investment management platform,\u201d said Zach Michaud, Co-Chief Investment Officer of Colliers. \u201cInfrastructure, an asset class which we know well, has high barriers to entry, low volatility, and strong tailwinds. It is also a segment that will see increased investor allocations, especially for high-quality investment platforms like Basalt and Harrison Street. The opportunity to leverage everything we have to offer while providing our investors with greater choice when it comes to differentiated investment products is very compelling.\u201d<\/p>\n
\u201cThis is another example of an experienced and entrepreneurial investment team choosing to partner with Colliers,\u201d said Jay Hennick, Chairman and Chief Executive Officer of Colliers. \u201cBasalt\u2019s culture aligns perfectly with our own and we are delighted to welcome this world-class team to our organization.\u201d<\/p>\n
\u201cOur partnership with Colliers strengthens Basalt for the long term and enhances our ability to continue delivering superior investment returns for our investors. Colliers is a permanent capital strategic partner that gives our partners, professionals, and investors stability and increased alignment over the long term,\u201d said Rob Gregor, Basalt Co-Founder and Managing Partner. \u201cThe relationship will also strengthen our global capabilities, offer unique market knowledge and relationships, and create important synergies to accelerate our growth. Colliers\u2019 entrepreneurial culture, decentralized management style, significant inside ownership, and exemplary investment record over more than two decades were also important factors. On behalf of our entire team, we look forward to leveraging these advantages as we continue to build Basalt in the years to come.\u201d<\/p>\n
In connection with this transaction, Berkshire Global Advisors acted as financial advisor to Basalt.<\/p>\n
About Colliers<\/strong><\/p>\n Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in\u00a065\u00a0countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners, and investors. For more than\u00a026\u00a0years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of\u00a0$3.6\u00a0billion\u00a0($4.0\u00a0billion including affiliates) and\u00a0$46\u00a0billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at\u00a0corporate.colliers.com<\/u><\/a>, Twitter\u00a0@Colliers<\/u><\/a>\u00a0or\u00a0LinkedIn<\/u><\/a>.<\/p>\n About Basalt<\/strong><\/p>\n Basalt is the exclusive investment advisor to the Basalt funds, comprising Basalt I, Basalt II, and Basalt III. The Basalt funds are infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and communications infrastructure in North America and Europe.<\/p>\n