Asset Management Finance completes 1st ‘unintrusive’ deal

Asset Management Finance Corp. completed its first "unintrusive" financing deal, acquiring the right to "less than 15%" of the revenues of real estate securities investment firm Adelante Capital Management for a 10-year period in exchange for "more than $10 million," said Norton Reamer, AMF's president and CEO. Adelante CEO Michael A. Torres, who led a management buyout of the firm from Australia's Lend Lease in August, said while options such as selling a stake to a private equity firm were available, AMF offered a source of finance that was much less disruptive for the firm, its clients and its employees. Adelante has roughly $3.3 billion in assets under management.