AIG Global Real Estate (“GRE”) has plans to divest its Fund Management Business, which operates 15 existing fund programs with over $12.4 billion in assets under management and $5.2 billion in equity capital commitments as of Sept. 30, 2008.
The Fund Management Business is a global asset advisor headquartered in New York with regional operations in Europe, Japan, Latin America and Asia and includes committed equity capital that has been funded or is to be funded by GRE as a sponsor or co-investor.
Bank of America and Merrill Lynch, GRE’s financial advisors, have begun to solicit interest for the Fund Management Business.
GRE’s Fund Management platform includes:
• Global asset advisor for a diversified client base;
• Funds include core plus, value-add and opportunistic with consistently strong results;
• Diversified portfolios across asset class, geography and vintage; and
• Seasoned group of investment professionals.
AIG Global Real Estate comprises a group of international companies that invest in and actively manage real estate for clients and AIG companies around the world. GRE’s property portfolio includes over 53 million square feet of retail, residential, industrial, office and hospitality properties in more than 50 countries. GRE is headquartered in New York with over 35 regional offices.