Macquarie Infrastructure and Real Assets has bought Munich-based GLL Real Estate Partners.
The deal will see GLL become the real estate equity investment platform for Macquarie in Europe and the Americas, while operating under its own brand.
GLL founding partners Rainer Göbel and Gerd Kremer and managing director Dana Gibson will continue to lead the business.
MIRA is a leader in infrastructure and has €7bn (£6.2bn) of assets under management and a 130-strong team.
GLL currently has a portfolio of 100 property investments and development projects across the office, retail, and industrial real estate sector – 44% of the portfolio is in Europe, 51% in the US and 5% in Latin America.
Following the transaction, MIRA and GLL will together manage about €10.6bn of real estate assets globally on behalf of investors.
Göbel said: “We have spent considerable time confirming the compatibility of GLL and MIRA, and I am convinced that bringing these two entities together will result in the whole being greater than the sum of the parts.”
The deal is subject to regulatory and merger approvals.
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