Invesco Real Estate agreed to acquire all real estate debt assets from GAM Investments along with its real estate debt team, according to a GAM spokeswoman.
The terms of the contract are not disclosed. With a team of seven led by the Chief Investment Officer Andrew Gordon170 million Swiss francs ($186 million) of assets under management will be transferred to Invescosaid the spokeswoman.
Mr. Gordon has been appointed Head of European Real Estate Debt, reporting to Andy RofeManaging Director for Europe at Invesco Real Estate.
“The dynamics shaping the European debt market are very attractive, and we want to accelerate our European offering with our new debt team. This gives us highly experienced professionals and asset class momentum from day one, in with a view to developing the debt proposal further,” Mr. Rofe said in a press release.
Invesco Real Estate had $79.8 billion in assets under management as of June 30. In Europe, the company had $14.6 billion in assets under management.
“Over time, we have identified 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 have identified Invesco Real Estate as the ideal fit, due to its global real estate capabilities and excellent complementary culture for the team.”
