Colliers (CIGI), a Toronto-based diversified professional services and investment management company, has entered into a definitive agreement to acquire a 75% equity interest in Versus Capital, a Denver-based alternatives firm managing approximately $6 billion in two funds.
Terms of the transaction, which is expected to close in the fourth quarter, were not disclosed.
Founded in 2010, Versus specializes in real estate, infrastructure, farmland and timberland investments in public and private markets.
In May, Colliers said in a press release that it signed a definitive agreement to buy a 65% stake in Rockwood Capital, a New York-based real estate investment management firm with more than $12 billion of assets under management. This deal is expected to close in the third quarter.
On closing of Versus and Rockwood Capital, Colliers' investment management operations will oversee more than $83 billion in assets under management, Colliers said in a separate press release.
On completion of the Versus transaction, Colliers expects the annual run rate of management fee revenue to be between $75 million and $80 million, Adjusted EBITDA of $40 million to $45 million, and operating results to be significantly accretive.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
