URDANG Hires Real Estate Debt Team From Capmark Investments LP and Is Named Sub-Advisor for Two Capmark Funds
October 05 2009 - 9:08AM
PR Newswire (US)
PLYMOUTH MEETING, Pa., Oct. 5 /PRNewswire/ -- URDANG, the real
estate investment subsidiary for BNY Mellon Asset Management, has
created a new real estate debt strategy group by hiring eight team
members from Capmark Investments LP, and has been named as a
nondiscretionary sub-advisor to Capmark Investments LP for Capmark
Structured Real Estate Partners, LP and Capmark VII-CRE, Ltd.
Capmark Structured Real Estate Partners, LP and Capmark VII-CRE,
Ltd. were both formed in 2006 and originally capitalized with $1.1
billion and $1.0 billion of institutional investor commitments,
respectively. "The formation of a new real estate debt strategy
group within URDANG complements our focus on private-market and
publicly-listed equity investments in real estate," said E. Todd
Briddell, chief investment officer and managing director of Urdang
Capital Management, Inc. "In addition to the opportunity to service
Capmark Investments, we believe that the persistence of tough
credit conditions within real estate capital markets makes now the
ideal time to strengthen and grow our real estate investment
business. We see attractive opportunities for Urdang's clients to
purchase and originate commercial mortgages and structured credit
instruments." Notes to Editors: Founded in 1987 with an exclusive
focus on institutional investment grade real estate, URDANG offers
a variety of strategies and products, managing approximately $1.5
billion in public real estate securities through URDANG Securities
Management, Inc. and $2.5 billion in gross private real estate
investments through URDANG Capital Management, Inc. for
institutional investors and high net worth individuals throughout
global markets and across public and private capital sectors.
URDANG's research-driven process combines top down economic
analysis and market/country selection with bottom up underwriting
of properties, companies and management teams to seek high,
risk-adjusted returns. It is one of the investment boutiques of BNY
Mellon Asset Management. BNY Mellon Asset Management is the
umbrella organization for BNY Mellon's affiliated investment
management firms and global distribution companies. BNY Mellon is
the corporate brand of The Bank of New York Mellon Corporation. BNY
Mellon is a global financial services company focused on helping
clients manage and service their financial assets, operating in 34
countries and serving more than 100 markets. The company is a
leading provider of financial services for institutions,
corporations and high-net-worth individuals, providing superior
asset management and wealth management, asset servicing, issuer
services, clearing services and treasury services through a
worldwide client-focused team. It has $20.7 trillion in assets
under custody and administration, $926 billion in assets under
management, services $11.8 trillion in outstanding debt, and
processes global payments averaging $1.8 trillion per day.
Additional information is available at bnymellon.com. All
information source BNY Mellon Asset Management as of June 30, 2009,
except where noted. This press release is issued by BNY Mellon
Asset Management to members of the financial press and media and
the information contained herein should not be construed as
investment advice. Past performance is not a guide to future
performance. DATASOURCE: BNY Mellon CONTACT: Mike Dunn of BNY
Mellon, +1-212-922-7859, Web Site: http://bnymellon.com/
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