Companies
BlackRock acquires MGPA, boosts Asia-Pacific and European operations
Last Updated: 2013-05-21 21:48 | chinadaily.com.cn
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BlackRock Inc announced on Tuesday that it had entered into a definitive agreement to acquire MGPA, a private equity real estate investment advisory company in Asia-Pacific and Europe, significantly extending its real estate investment capabilities in these regions.

MGPA owns a retail mall in Chengdu and a grade A office building in Shanghai, while in Hong Kong it has a luxury residential complex, a grade A office building and an office building with a retail podium.

The planned acquisition of MGPA’s complete business makes BlackRock a truly global real estate investment manager, with pro forma assets under management of about $25 billion as of March 31, 2013.

The transaction is expected to close in the third quarter of 2013.

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