BlackRock to Buy Real Estate Firm MGPA for Asia, Europe Push
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BlackRock Inc., the world’s largest asset manager, agreed to buy private-equity property investment advisory firm MGPA for an undisclosed amount to expand real-estate business in the Asia-Pacific region and Europe.
MGPA manages about $12 billion, focusing on real estate funds management, co-investments and separate-account mandates for institutional investors, BlackRock said today in a statement. The transaction is expected to close in the third quarter and won’t materially affect BlackRock’s earnings per share, the New York-based firm said.