Location: Oakland, California
Investment Focus/Specialty: REITs
Firm Summary
Adelante Capital Management LLC ("Adelante") is an Oakland, California based boutique investment manager, specializing in
publicly traded real estate securities. Since 1995, Adelante’s team of investment professionals, led by Michael Torres,
has delivered competitive risk adjusted returns for investors. As an employee owned firm, Adelante offers clients the kind
of attentive, customized service difficult to find in today’s world of investment management.
Transaction Summary
Adelante turned to AMF in 2004 for assistance in financing the management buyout of the firm from Australia’s Lend Lease
Corporation and to begin distributing equity to key employees.
Partner Firm Perspective
"Independence means everything to us and employee ownership is crucial to maintaining our firm’s culture
and long-term success. As an entrepreneur and an investment manager, I know that an ownership culture is critical
to attracting talented professionals and, in turn, the key to achieving strong long-term performance," says
Michael Torres, Adelante’s CEO. "Equity is more than compensation. It is the instrumental
component in maintaining the culture that we have built and competing in today’s markets."
"AMF tailored a financial solution to accomplish our goals. Unlike other financial options, AMF, as a passive investor, offered us self-governance and the ability to maintain full control of our future. As an independent firm, we can best serve our clients by making decisions for our business without being encumbered by an outside party. Since the AMF team understands the investment management business, they remain a valuable resource to us."