NEW YORK (December 1, 2004) – Asset Management Finance Corp. ("AMF"), source of innovative financial solutions for money management firms, is pleased to announce an investment in ACM Acquisition LLC ("ACM"), holding company for Adelante Capital Management LLC ("Adelante"), a leading US real estate securities investment manager with over $3 billion of assets under management.
AMF, based in New York and Boston, is investing in ACM as part of a refinancing of the management buyout of the Berkeley, California-based firm. The Adelante management team, led by Chief Executive Officer Michael A. Torres, acquired the company, formerly known as Lend Lease Rosen Real Estate Securities LLC, from Australia’s Lend Lease Corporation Limited in August 2004.
Under the terms of the agreement, AMF is acquiring a specified share of ACM’s revenues for a period of 10 years. Adelante’s management retains 100% of the firm’s equity and complete independence. The investment in ACM is the first transaction for Asset Management Finance, which just finalized its capital raising in September 2004. AMF is owned by National Bank Financial, a leading Canadian full-service investment bank, Pacific Life, one of the largest US insurance companies, and AMF management.
"We’re proud to affiliate with Michael Torres and his colleagues at Adelante Capital Management and delighted that AMF’s first investment is in a firm specializing in real estate investments, an important and growing asset class for institutional and individual investors alike," said Norton Reamer, AMF’s President and Chief Executive Officer. "AMF helps asset management firms become or remain independent by providing financing solutions tailored to meet their individual needs and objectives. The fact that our initial investment is occurring ahead of schedule indicates that money management firms are very receptive to AMF’s message."
"We’re pleased to have AMF as our financing partner," said Michael Torres, Adelante’s Chief Executive Officer. "Norton Reamer and his colleagues offer a progressive financial solution and constructive investment management industry experience. Their investment will not change our governance structure and will advance our strong belief that we serve our clients best as an independent, management-owned firm."
Adelante employs 15 professionals and manages assets for public and corporate pension funds, foundations, endowments, and individual investors through a variety of investment vehicles, including separate accounts and mutual funds.
"We’re excited that our first investment is in ACM and we expect to announce additional transactions in the months ahead," said Rick Haywood, AMF senior vice president and head of business origination.
About Adelante Capital Management LLC
Adelante Capital Management LLC is a Berkeley, California-based investment manager specializing in real
estate securities portfolio management for institutional and individual clients. Adelante is one of the largest
Hispanic owned and controlled investment management firms in the United States. In Pension and
Investments’ June 30, 2004 listing of the 50 Largest Real Estate Investment Managers, Adelante ranks as
the 7th largest tax-exempt REIT investor. The Company manages client assets through a variety of
investment vehicles including separate accounts and mutual funds. Adelante offers discretionary
management of equity portfolios for a variety of clients consisting primarily of public and corporate pension
funds, foundations and endowments, and individual investors.
| Back to Top |  Download in PDF Format |