Macquarie to acquire placement agent Presidio

Australia’s Macquarie Group is to increase its real estate capital raising capabilities through the takeover of Presidio Partners, the San Francisco and Chicago-based advisory practice. The transaction is expected to close in the fourth quarter this year.

Global banking group Macquarie Group has agreed the takeover of Presidio Partners, a San Francisco and Chicago-based capital raising and advisory firm in a deal expected to complete next quarter.

According to an announcement on the matter, Macquarie was attracted to Presidio on the back of its US and European presence in the market.

Combined with its existing capital raising platform, Macquarie will have a 19-person strong team which will have raised a combined $30 billion from 390 institutions across Europe, North America, the Middle East and Asia Pacific since 2003 – $11.8 billion of which was raised by Presidio.

Chris Green, co-global head of Macquarie Capital Advisor’s Real Estate Group, said: “The addition of the Presidio team to Macquarie’s existing real estate platform will bolster our real estate offering and increases investor and client coverage across all major developed markets and key emerging markets.”

“Their long-term industry experience provides Macquarie with additional real estate private capital markets capabilities in the US and Europe, and is a natural complement to our preeminent franchise in the Asia Pacific region.”

The acquisition of the private capital team follows the recent hire of a six person CMBS team in the US.

Desi Co, partner of Presidio Partners said: “Our clients will still receive the same personalized, institutional quality senior attention that they’re accustomed to, but will now be able to benefit from the reach of Macquarie’s global platform and its broad range of investment banking services.”

“Macquarie will assist with proprietary and third party overseas capital for potential US investment opportunities, providing its full resources to our industry.”