Also hosting at the Gray event: Deven Parekh, managing director of Insight Venture Partners; Peter Orszag, who joined Lazard Ltd. after stints at Citigroup Inc. and in government; and Roger Altman, founder of Evercore and a former deputy Treasury secretary. NEW YORK, NEW YORK (June 29, 2023) INDUS Realty Trust, Inc. (Nasdaq: INDT) (INDUS or the Company), a U.S. based industrial/logistics REIT, announced today the completion of the previously announced merger whereby affiliates of Centerbridge Partners, L.P. (Centerbridge), a global private investment firm with deep experience in real estate, and GIC, a global institutional investor, have acquired all of the outstanding shares of INDUS common stock in an all-cash transaction valued at approximately $868 million. We remain confident in the long-term, secular thesis supporting investment in industrial real estate. We remain confident in the long-term, secular thesis supporting investment in industrial real estate. As the manager of Singapore's foreign reserves, GIC takes a long-term, disciplined approach to investing, and is uniquely positioned across a wide range of asset classes and active strategies globally. Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines private equity, private credit and real estate in an effort to develop the most attractive opportunities for its investors. Our cofounders believe in a complementary not responsible for its accuracy. News. on the official website of the Securities & Exchange Commission (SEC). WebAmy joined Centerbridge in 2009 and leads the Firms business development, fundraising and investor relations efforts. If you are an accredited investor and wish to become a client of Centerbridge Partners, you can. Centerbridge Partners, L.P. is a private investment firm with offices in New York and BofA Securities Inc. and J.P. Morgan Securities LLC served as financial advisors to Centerbridge and GIC. Education. WebCenterbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines private equity, private credit and real estate in an effort to develop the most attractive opportunities for our investors. Get the latest business insights from Dun & Bradstreet. WebContact Email information@centerbridge.com. Centerbridge Partners is a private investment management firm employing a flexible approach across investment disciplines from private equity to credit and related strategies, and real estate in an effort to find the most attractive opportunities for our investors and business partners. Chang's for $1.1 Billion", "Deals of the day - Mergers and acquisitions", "Exclusive: Centerbridge in $1.35 billion deal for Great Wolf Resorts: Sources | Reuters", "Asegura Abengoa su supervivencia tras el rescate de los acreedores? It manages a numberof, It's important to understand that hedge funds are often complex, loosely regulated investments and therefore only accessible to accredited investors. Finding a financial advisor doesn't have to be hard. It is from our integrated vantage point that we are able to identify and capitalize on investment opportunities. Established in 1954 as the original inventor of solvent cement for PVC pipe applications, IPS Corporation is a trusted manufacturer of rough plumbing and roofing supplies for the construction industry, as well as structural adhesives and solvent cements for a broad range of construction, industrial, and manufacturing applications. (which will reduce returns). Our cofounders believe in a complementary relationship between our investment disciplinesfrom private equity to credit and related strategies, and real estateand have set out to build a unified team to invest across asset classes and market cycles. As a result of the completion of the transaction, INDUS common stock will no longer trade on Nasdaq and will be delisted. We look forward to supporting the company as it embarks on its next phase of growth.. Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines - Private Following the integration of Superior Vision and Davis Vision, the company rebranded as Versant Health in 2018. Simpson Thacher & Bartlett LLP served as legal counsel to Centerbridge and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to GIC. Wed like to share more about how we work and what drives our day-to-day business. Established in 1954 as the original inventor of solvent cement for PVC pipe applications, IPS Corporation is a trusted manufacturer of rough plumbing and roofing supplies for the construction industry, as well as structural adhesives and solvent cements for a broad range of construction, industrial, and manufacturing applications. Each Centerbridge funds holdings are unique to it and a function of the facts and circumstances in effect with respect to such fund, including its investment and harvest period. Simpson Thacher & Bartlett LLP served as legal counsel to Centerbridge and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to GIC. One event will be co-hosted by Jon Gray, president and COO of the Blackstone Group, and Blair Effron, co-founder of Centerview Partners. By signing up you agree to receive content from us. jclark@indusrt.com, View source version on businesswire.com: https://www.businesswire.com/news/home/20230629380832/en/. WebCenterbridge Partners was founded in 2005 by Jeffrey H. Aronson and Mark T. Gallogly and commenced business in early 2006. We believe George Moore, Dan St. Martin, and the IPS team are similarly poised to drive excellent performance through use of the business system and are excited to support the team during the next stage of the Company's growth," added Conor Tochilin, Managing Director at Centerbridge. Centerbridge Partners has an overall rating of 3.2 out of 5, based on over 26 reviews left anonymously by employees. This page contains links to SmartAssets financial advisor matching Education. "GIC is pleased to complete the acquisition of INDUS and support their continued growth with our multi-asset experience, long-term view, and global footprint alongside our strategic partner, Centerbridge. does not review the ongoing performance of any Adviser, participate in the management of any users Our leading brands include WELD-ON, CHRISTY'S, WATER-TITE, TEST-TITE, GUY GRAY, TRUEBRO, STUDOR, AB&A, SCIGRIP, INTEGRA, and UNIKA. This transaction is an incredible validation of their efforts.. For more information, please visit www.centerbridge.com. Prior to joining Centerbridge, Elysia was an Associate in the Real Estate Investments Group at Brookfield Asset Management. , . Privacy Policy and Prior to Blackrock, she was a Senior Vice President & Chief Human Resources Officer at Cerberus Capital Management. Morgan, Lewis & Bockius LLP served as legal counsel to IPS and Cypress. Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplinesprivate equity, private WebSection 2. Centerbridge PartnersInvestment Philosophy. The Firm was founded in 2005 and as of December 31, And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. NEW YORK, NEW YORK (June 29, 2023) INDUS Realty Trust, Inc. (Nasdaq: INDT) (INDUS or the Company), a U.S. based industrial/logistics REIT, announced today the completion of the previously announced merger whereby affiliates of Centerbridge Partners, L.P. (Centerbridge), a global private investment firm About Centerbridge. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. Webintroduce Centerbridge Real Estate Fund II, a Real Assets Fund opportunity. Provide specific products and services to you, such as portfolio management or data aggregation. of seniors. **Refers to investments for which the identities have not been disclosed in light of confidentiality considerations identified in the governing documents of the Centerbridge funds. Previously, Dan worked as a Summer Principal at Centerbridge. INDUS Realty Trust completes merger with Centerbridge Partners, GIC affiliates. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. *Refers to investments made by Centerbridges private equity funds that involve the Firm holding a controlling-interest and/or substantial governance rights. matches you with financial advisors in just five minutes. If anyone offers you investment services using GIC's name or brand, do not reply or click on any links. Prior to joining Centerbridge, Conor was an Associate at TPG-Axon Capital Management in New York and London, and a Business Analyst in McKinsey & Companys Corporate Finance Practice in New York. GIC is pleased to complete the acquisition of INDUS and support their continued growth with our multi-asset experience, long-term view, and global footprint alongside our strategic partner, Centerbridge. 5 Centerbridge acquired Superior Vision in 2016 and subsequently completed a merger of the business with another Centerbridge portfolio company, Davis Vision, in 2017. This is not an offer to buy or sell any security or interest. Commenting on the announced acquisition, Billy Rahm, Global Head of Real Estate at Centerbridge said, "We are excited to partner with ADIA and GIC to continue to grow the business both organically and through acquisitions. About Centerbridge Partners Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines private equity, private credit and real estate in an effort to develop the most attractive opportunities for our investors. Our professionals draw on their diverse investment experience and communicate across disciplines, sectors and geographies to develop a unique point of view. how many years of retirement a $1 million nest egg would cover in cities across America. apizzo@indusrt.com, Jon Clark Verify your identity, personalize the content you receive, or create and administer your account. Related Persons. The information herein represents a full list of investments classified by Centerbridge as Private Equity* investments (excluding designated investments**). [3][4] The firm also raised a $2 billion non-control, activist-oriented credit trading fund known as Centerbridge Special Credit Partners through 2009 and 2010. The deal was part of a buyout of the company along with Dutch-based food retailer Ahold Delhaize.[19]. Q3 Stock Market Outlook: Time to Batten Down the Hatches or Raise the Sail? WebExperience. WebChildren & Family Services. "Over the years, we have partnered with outstanding executives who have used the Danaher Business System to drive outperformance. Stay one thought ahead. Gavin joined Centerbridge in 2018 and is a portfolio manager for the Firms global credit investing activities. Jefferies served as lead financial advisor to Centerbridge. For more information, please visit www.centerbridge.com. [13], In August 2016, Centerbridge Partners, together with Canyon Capital Advisors, Vrde Partners and seven other funds, participates in the rescue of Spanish giant Abengoa, injecting a combined 1.17 billion. WebSenior Managing Director, London. Advisers hope Bidens fundraising haul will provide a boost for the campaign, strengthening their argument that there is deep enthusiasm for his reelection bid. WebSenior Managing Director, New York. Jefferies and Credit Suisse provided financing for the transaction. ", "Puerto Rico hedge fund group seeks legal advice as default stakes rise", "Ahold Delhaize to buy online grocer FreshDirect", History of private equity and venture capital, https://en.wikipedia.org/w/index.php?title=Centerbridge_Partners&oldid=1156224926, Private equity firms of the United States, Financial services companies established in 2005, Short description is different from Wikidata, Articles with unsourced statements from June 2019, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 21 May 2023, at 20:33. Methodology Centerbridge Partners, LP is an investment management firm with more than $24 billion in assets under management (AUM). All rights reserved | Privacy Policy, https://www.businesswire.com/news/home/20230629380832/en/, Unified Communication as Key Enabler for Telemedicine, Contact Center Agility in the Post-COVID World, Workplace transformation for the dynamic workforce, Native Azure Compliance Recording for Microsoft Teams, How to become an MSP for no-code workflow automation, How Technology is Revolutionizing the Customer Experience, Revolutionizing IT Operations: What OpsRamp's Acquisition by HPE Means for Your Business, Maximizing Productivity in the Contact Center, Next-Gen Cloud Contact Centers For Dummies, RingCentral Special Edition, The Cloud, Infra, and Security Landscape for Independent Software Vendors (ISVs). About Centerbridge. Financial terms of the transaction were not disclosed. 32% of employees would recommend working at Centerbridge Partners to a friend and 38% have a positive outlook for the business. Back to our team. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Centerbridge Partners and GIC Complete Acquisition of INDUS Realty Trust, Inc. All ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our The Company sells its products through the wholesale and retail channels to a diverse base of customers across the globe with manufacturing operations in the United States, the United Kingdom, and China. Entering text into the input field will update the search result below, Industrial/logistics REIT INDUS Realty Trust (. IPS had been owned since 2017 by Cypress, a diversified industrial holding company established by former Danaher Corporation CEO George Sherman. Additionally, the firm is entitled to receive 20% of the profits from these funds based on carried interest. [7] This was followed by a closing of its $2bn second Special Credit Partners fund in March 2012. Whether you are an accredited or sophisticated investor or not, it never hurts to consult a professional to make sure you're doing everything you can tomanage your finances so that they can work for you. Cision Distribution 888-776-0942 WebCenterbridge Partners, L.P. is an investment management firm focused on private equity and distressed investment opportunities. As the manager of Singapore's foreign reserves, GIC takes a long-term, disciplined approach to investing, and is uniquely positioned across a wide range of asset classes and active strategies globally. WebConor joined Centerbridge in 2013, after working as a summer principal in 2012, and focuses on investments in the Industrials sector. The Company is a world-class manufacturer with leadership positions across its key product categories and stands to benefit from strong market tailwinds in its attractive end markets," said Steven Silver, Global Co-Head of Private Equity and Senior Managing Director at Centerbridge. from 8 AM - 9 PM ET. Save As PDF. Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines private equity, private credit and real estate in an effort to develop the most attractive opportunities for its investors. The other fundraiser, at the Central Park West home of Mark Gallogly and his wife, Lise Strickler, was organized by donors focused on investments and support for actions to address climate change. WebAbout Centerbridge Partners Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines private equity, private credit and real estate in an effort to develop the most attractive opportunities for our investors. Additionally, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) will act as a strategic investor alongside Centerbridge in the ownership of INDUS post-closing. Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines Private Equity, Private WebCenterbridge Capital Partners IV, L.P. Street Address 1 Street Address 2; 375 PARK AVENUE: 11TH FLOOR: City State/Province/Country ZIP/PostalCode Phone Number of Issuer; NEW YORK: NEW YORK: 10152 (212) 672-5000: 3. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. For the Special Credit Funds, Capital Partners Funds and Real Estate Funds, generally, the fundspay the firm a management fee based on AUM. These products and services are usually sold through license agreements or subscriptions. Phone Number (212) 672-5000. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Ben focuses on investments in the Financial Services and related sectors. Jun. Education. Cypress Performance Group, LLC is a holding company founded by George Sherman focused on value-added manufacturing or industrial service businesses in industries with consolidation opportunities. As of December 2014, the Firm has One-Time Checkup with a Financial Advisor, performance-based or incentive allocation fee, Council for Community and Economic Research. About Centerbridge Partners. About Centerbridge Partners. Education. Under the leadership of George Sherman, George Moore, and Dan St. Martin, IPS has deployed a version of the Danaher Business System, a holistic operating model through which strategy, operations, and financial performance are managed. SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. When Will the Fed Start Cutting Interest Rates? If you're ready to connect with local advisors, It's never too early - or too late, for that matter - to start investing. Dana Wechsler Linden, a journalist and author, is also one of the co-hosts for the Gallogoly event. [11] Three years later announced its agreement to buy Senvion SE from Indian wind turbine manufacturer Suzlon[12] and acquired Great Wolf Resorts, the world's largest chain of indoor water park resorts for $1.35 billion. Each fund's offering documents will provide full details of fees, but particular fund fees are as follows: For the Credit Partners Funds, generally these funds pay the firm of 1.50% per year based on AUM and a performance-based or incentive allocation fee equal to 20% of net capital appreciation per year. IPS provides a comprehensive offering of specialized, highly engineered industrial products including solvent cements, rough plumbing and roofing products, and structural and surface adhesives. This fee is 1.50% per year, and then after certain other parameters, 1.25% per year. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Additionally, the firm is entitled to receive 20% of the profits from these funds based on, Again, it's important to understand that hedge funds are often complex, loosely regulated investments and therefore accessible only to, . Centerbridge has discretionary authority to manage and provide advisory services to private pooled investment vehicles. Learn more atwww.ipscorp.com. Industry: Investment & Asset Management. Working with an adviser may come with potential downsides such as payment of fees Sonnedix thus takes over a portfolio of 136MWp, corresponding to 43 solar PV plants in Spain, making it the second largest solar PV operator in Spain and one of the largest in the world, with close to 500MW worldwide. The firm's long- term approach, multi-asset capabilities, and global connectivity enable them to be an investor of choice. [8] That same year, Centerbridge acquired 'GMAC Commercial Finance', a subsidiary of Ally Financial[9] as well as Rock Bottom Restaurants and Gordon Biersch Brewery Restaurant Group, merged to form CraftWorks Restaurants & Breweries. Cypress Performance Group, LLC is a holding company founded by George Sherman focused on value-added manufacturing or industrial service businesses in industries with consolidation opportunities. Copyright 2023 Morningstar, Inc. All rights reserved. The Firm was founded in 2005 and as of December 31, Submit confidentially to our News team. The Firm was founded in 2005 and as of George Moore and Dan St. Martin will continue to serve as Executive Chairman and CEO of IPS, respectively. Cities where $1 million lasted the longest ranked the highest in the study. He has worked at Blackstone Group and co-founded the investment firm Centerbridge Partners. , . WebBarbara joined Centerbridge in 2016 and leads the Firms human capital efforts. long $1 million would cover retirement expenses in each of the cities in our study. Cypress helps companies implement their strategic plan by using its business system to focus on growth and operational efficiency while developing industry leading practices to improve customer experience and delivering shareholder value. Headquartered in California, IPS Corporation has operations throughout the United States, Europe, and Asia. INDUS owns 44 industrial/logistics buildings totaling 6.6 million square feet in Connecticut, Pennsylvania, North Carolina, South Carolina and Florida. Prior to joining Centerbridge, Barbara was the Chief Human Resources Officer at Wellington Management Company, where she was responsible for overseeing the leadership and execution of the human resource strategy, policies and programs. Please. For more information, please visit www.centerbridge.com. It's important to understand that hedge funds are often complex, loosely regulated investments and therefore only accessible to accredited investors. Biden has begun using a machine for continuous positive airway pressure therapy, or CPAP, Bloomberg first reported Wednesday. When typing in this field, a list of search results will appear and be automatically updated as you type. Revenue: $100 to $500 million (USD) Competitors: Siguler Guff, Wingate Web201 to 500 Employees. The firm is focused on making investments that are attractively priced relative to their intrinsic value. He has worked at Blackstone Group and co-founded the investment firm Centerbridge Partners. WebBao joined Centerbridge in 2010 and focuses on investments across a range of sectors. Prior to joining Centerbridge, Alissa worked at KKR Capstone, the portfolio operations arm of KKR & Co. Alissa began her career at Bain & Company, where she advised corporate and private equity clients across various industries and functions. Review content is produced by SmartAsset independently of any business Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. George Moore and Dan St. Martin will continue to serve as Executive Chairman and CEO of IPS, respectively. Within the past 10 years, Centerbridge Partners has not undergone any disciplinary or legal action deemed material to a clients evaluation of its business integrity. Sources: Bureau of Labor Statistics (BLS), I am truly excited to join with Centerbridge in our next chapter to continue our outperformance and strong positive momentum," said Dan St. Martin, CEO of IPS. Standard Chartered provided acquisition financing to Centerbridge and GIC.
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