Global real estate investment management firm, Heitman LLC has announced it has redeemed OM Asset Management (OMAM) interest in the company for $110 million meaning it is now owned by its senior executives.
Prior to transaction, the firm was 50 per cent owned by senior professionals while another 50 per cent was owned by an entity controlled by OMAM.
Following the deal, 100 per cent of the company would be now in hands of senior professionals of the firm who would continue to be responsible for executing annual business plans, day-to-day operations, the investment and client management process as well as setting firm’s strategy.
Heitman, which has currently $39 billion in assets under management and operates across North America, Europe and Asia-Pacific, said that employee ownership and control was an important differentiator which in consequence would see 40 senior professionals from across the firm’s business and support operations share in the ownership.
Heitman’s chief executive, Maury R. Tognarelli said: “The acquisition of OMAM’s interest in Heitman represents another significant milestone for the firm in our ongoing mission to be one of the leading real estate investment management firms.”
“The consolidation of the firm’s ownership is indicative of the confidence we have in ourselves and further aligns our interests with those of our clients.”
The firm is headquartered in Chicago, with offices in Los Angeles, London, Luxembourg, Frankfurt, Munich, Warsaw, Hong Kong, Seoul, Tokyo and Melbourne.