Connect with us

Acquisitions

Eastdil Secured buys itself back from Wells Fargo

Eastdil Secured is officially buying itself back from Wells Fargo in a deal valued at more than $400 million. Guggenheim Investments and the Singapore investment company Temasek Holdings are also taking ownership stakes in the firm, while Wells Fargo will retain a minority position, according to the WSJ.

Be Smart: Eastdil’s Roy March said that as a wholly-owned subsidiary of Wells Fargo, Eastdil felt hamstrung by banking regulations. The deal is also expected to bolster the company’s expansion plans in Asia. 

Heard on the Street: Blackstone’s Jonathan Gray: “Betting against Eastdil or against Roy March is not a great idea… It’s a very successful firm that is quite effective at what it does.”

By the numbers: Eastdil will remain a boutique firm with around 335 real-estate professionals…. JLL and CBRE each have about 90,000 employees.

Flashback: Wells Fargo paid $150 million for the firm in 1999. (WSJ)

Continue Reading
To Top