CBRE Investment Management Secures New Finance Facility for Indirect Secondaries Strategy

CBRE Investment Management has secured a new finance facility for its indirect secondaries strategy, to be delivered by RBS International (“RBSI”), part of the NatWest Group.

The subscription credit facility is scalable up to US$250 million and is secured by a limited group of investors. Designed to be flexible, the new facility gives CBRE Investment Management (“CBRE IM”) rapid access to external debt to support its growing investment pipeline. The facility also provides the capability for loans to be drawn via multiple borrowing vehicles, to provide for the differing needs of varied investment geographies.

The new facility supports CBRE IM’s indirect secondaries strategy, which seeks opportunistic returns by identifying thematic real estate trends in markets where liquidity or capital constraints present opportunities to acquire high-quality real estate on attractive terms.

Duco Mook, Global Head of Treasury & Debt Financing at CBRE IM’s Indirect Real Estate Strategies, said: “We have worked collaboratively with RBSI for many years, across several strategies – it is a tried and tested relationship, that has allowed us to close multiple subscription facilities for different products. We have been able to secure niche financing solutions that help us achieve our objectives, despite a challenging market in which liquidity is scarce.”

“This facility is, above all else, flexible, supporting our ambitious growth strategies and allowing us to secure transactions within very tight timelines. RBSI’s pragmatic support and expert input has proven to be invaluable.”

Pierre Bean, Director, Institutional Banking, Guernsey, RBSI, said: “We are delighted to have completed this new transaction with CBRE IM, supporting its ongoing investment success in the sector and further building on our growing relationship.

“We have worked closely and efficiently to meet a number of tight deadlines for CBRE IM’s strategy. Our strong partnership ensured we were able to complete the transaction on time despite these challenges.

“We look forward to continuing to support CBRE IM with future opportunities.”

RBSI has been an industry leader in fund financing for over two decades. Supporting a wide range of sponsors and structures, RBSI offers a full range of products, including operational bank accounts, FX solutions, lending and depositary services to help institutions meet their objectives at various fund life stages.

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $147.5 billion in assets under management* as of December 31, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

About RBS International Institutional Banking
We specialise in helping institutional clients look after their money and manage risk. This includes transactional banking, fund financing, liquidity and risk management, and depositary services (through separate legal entities). We’re based in Jersey, Guernsey, UK, Luxembourg, Gibraltar and the Isle of Man so our clients get personal, tailored support from a local expert. And our multi-currency online banking platform, eQ, lets them move and manage money the same way they do their personal banking.

Our clients include alternative investment fund managers, asset managers, fund administrators and corporate service providers. With our culture of restless innovation, we work to make banking easy. We’re focused on delivering all the services our clients need, where and when they need them.