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Macquarie Group to Acquire Presidio Partners LLC

14 September 2010

  • Presidio Partners is a prominent US-based specialist real estate private capital raising and advisory business with a strong track record in North America, Europe, and key emerging markets
  • Creates a leading global private real estate capital markets business in combination with Macquarie’s preeminent and complementary Asia Pacific platform
  • Clients benefit from global investor coverage and significant principal co-investment capabilities
  • Investor relationships gain access to global deal flow and proprietary real estate market analytics

NEW YORK - Macquarie Group (“Macquarie”) (ASX: MQG; ADR: MQBKY) today announced that it has entered into an agreement to acquire 100% of the membership interests in Presidio Partners LLC (“Presidio”), a leading US-based real estate private capital raising and advisory firm. Terms of the transaction were not disclosed and the transaction is expected to close in the fourth quarter of 2010, subject to regulatory approvals and other customary closing conditions.

Presidio’s strength in the US and Europe, in combination with Macquarie’s preeminent position in Asia Pacific, will create a leading global real estate private capital markets platform.  The combined platform will have a 19 person private capital team, who have raised a combined US$30 billion for private real estate transactions from 390 institutions in Europe, North America, the Middle East, and Asia Pacific since 2003. The private capital team will be supported by Macquarie’s broader real estate advisory, equities and debt capital markets business.

Chris Green, Co-Global Head, Macquarie Capital Advisor’s Real Estate Group, said: “The addition of the Presidio team to Macquarie’s existing real estate platform will bolster our real estate offering and increases investor and client coverage across all major developed markets and key emerging markets. Their long-term industry experience provides Macquarie with additional real estate private capital markets capabilities in the US and Europe, and is a natural complement to our preeminent franchise in the Asia Pacific region.”

The acquisition of the private capital team follows the recent hire of a six person CMBS team in the US.

Desi Co, Partner of Presidio Partners said: “We are excited to be able to bring our experience and client relationships to Macquarie.  Our clients will still receive the same personalized, institutional quality senior attention that they’re accustomed to, but will now be able to benefit from the reach of Macquarie’s global platform and its broad range of investment banking services.”

“Macquarie will assist with proprietary and third party overseas capital for potential US investment opportunities, providing its full resources to our industry.  We will work together to provide our key institutional relationships with globally accessed club and direct investment opportunities,” Mr. Co added.

Brett Robson, Global Head of Macquarie Real Estate Private Capital markets, said: “We are seeing an increasing co-dependence of private and public capital in real estate transactions along with an increased globalization of capital flows. We are excited about creating a truly global real estate private capital business and believe Macquarie’s strength across both public and private equity plus debt capital markets will ensure clients are able to maximize access to opportunities and capital.”

Presidio is a San Francisco and Chicago based real estate private capital raising and advisory firm.  Presidio is ranked as a top-three real estate private capital raiser, both in the US and globally, having raised over US$11.8 billion of equity over 21 transactions since 2003.  In addition to its US presence, the company has been particularly active in raising funds for sponsors based in the UK, Europe and the emerging markets.

About Macquarie
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 14,600 people and has assets under management of over $US299 billion ($A326 billion) (as of March 31, 2010).

Macquarie Capital comprises Macquarie Group’s corporate advisory, public and private capital markets businesses. Macquarie Capital’s Real Estate team consists of over 80 professionals providing global coverage and on-the-ground expertise and execution of real estate related transactions to clients in Europe, North America, the Middle East, Asia and Australia.

About Macquarie Real Estate Private Capital Markets
Macquarie’s Real Estate Private Capital Markets is a specialist private capital advisory and equity raising business within Macquarie Capital Advisor’s Real Estate Group. Led by Brett Robson, the business has raised US$18 billion of equity for private market transactions since 2005.  In 2008 and 2009, the business was named leading industry publication PERE’s, Asian Private Placement Agent of the Year.  Macquarie has advised on some of the largest private capital transactions globally such as the recent US$1 billion recapitalization and restructure of CFSGAM Property Retail Partnership, and the US$400 million Hybrid Investment by China Investment Corporation into the Goodman Group, awarded Most Innovative Deal in 2009 by FinanceAsia.

Macquarie Capital Advisors Real Estate employs 83 executives across 11 countries to provide real estate market participants with integrated, full service solutions and to offer tremendous global deal sourcing capability.

For further information, please contact:
Media enquiries
Corporate Communications
Macquarie Group
Tel: +1 212 231 1310

Attachments

  • See attached factsheet for additional information

Appendix

Presidio’s four founding principals will join Macquarie as Managing Directors following the close of the transaction.  They are:

  • Jack Berquist.  Mr. Berquist brings 27 years of experience and extensive global institutional investor relationships in Real Estate Private Capital.  While at Presidio, Mr. Berquist was a Managing Partner responsible for client management and capital raising activities. Mr. Berquist previously managed the real estate private equity group of Banc of America Securities LLC from 1997 to 2003.  Prior to that he served as a Director in a 13 year career in Merrill Lynch’s investment banking division.
  • Alan Braxton.  Mr. Braxton brings 20 years of experience and extensive global institutional investor relationships in Real Estate Private Capital.  While at Presidio, Mr. Braxton was a Managing Partner responsible for client management and capital raising activities.  He previously was a Principal with Banc of America Securities LLC in its real estate private equity practice.  Prior to that, he served as a Managing Director with LaSalle Investment Management, a wholly owned subsidiary of Jones Lang LaSalle Inc.
  • Desi Co. Mr. Co brings 15 years of experience and extensive global institutional investor relationships in Real Estate Private Capital.  At Presidio, Mr. Co was a Partner responsible for client management, capital raising, due diligence and compliance activities.  Prior to co-founding Presidio, Mr. Co was a Vice President with Banc of America Securities LLC in its real estate private equity practice where he underwrote, placed or advised on more than $3 billion in equity, debt and M&A transactions.  Before Banc of America, he was a Senior Accountant with Ernst & Young LLP. 
  • Markus Trice. Mr. Trice brings over 25 years of Real Estate Private Capital experience and extensive global institutional investor relationships to Macquarie.  At Presidio, Mr. Trice was a Managing Partner responsible for client management and capital raising activities.  Before co-founding Presidio, Mr. Trice was a Managing Director with the real estate private equity group at Banc of America Securities LLC.  Prior to that he served as an Executive Vice President at GE Capital Investment Advisors and a Senior Vice President and Principal at LaSalle Advisors.

Download PDF Press Release (.pdf, 29KB)
Download Fact Sheet - Macquarie and Presidio Partners (.pdf, 139KB)


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