Everest Healthcare Properties, a money manager focused on health-care investments, was acquired by a global asset management firm with $74 billion in total assets under management, said David Lynn, Everest's founder and president, in an email.
Mr. Lynn declined to name the buyer, which is acquiring 80% of Everest; management is retaining 20%.
"Our partner is a world-class Fortune 400 company with significant global capabilities in investment management, health-care real estate and asset management," Mr. Lynn wrote.
Everest is now the health-care real estate investment platform for the acquiring firm's U.S. real estate business. The acquiring firm has $45 billion of its AUM in real estate, Mr. Lynn said. Everest has about $145 million in AUM.
The acquisition provides Everest with the resources and mandate to grow its portfolio significantly in the coming years, Mr. Lynn said. "We are very excited about our partnership and look forward to the aggressive pursuit of high-quality health-care real estate assets, including single assets or portfolios of medical office, senior housing (real estate or operator), hospitals (real estate or operator) and biotech/research, ranging from $10 million to $1 billion in gross asset value," Mr. Lynn wrote.
