CIGI - Colliers International to invest in alternative investment manager

• Colliers ( NASDAQ: CIGI ) to acquire 75% equity ownership interest in Denver-based Versus Capita, a leading U.S. alternative real asset management firm with ~$6.0B of AUM.
• Financial terms of the transaction were not disclosed.
• As part of its new strategic partnership with Colliers, Versus expects to continue expanding its investment offerings and capitalizing on the Colliers investment management platform’s array of product solutions.
• Pursuant to the deal, Colliers expects the annual run rate of management fee revenue to be between $75M and $80M, Adjusted EBITDA of $40M to $45M, and operating results to be significantly accretive.
• "On closing of Versus and Rockwood, our investment management operations will oversee in excess of $83 billion in assets under management, of which almost $70 billion will be either perpetual or long-dated strategies, further strengthening our recurring revenues for the future," said Jay S. Hennick, Chairman and Chief Executive Officer of Colliers.
• The deal is expected to close in the fourth quarter of 2022.

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