US firm targets Europe with BoI acquisition
The Los Angeles-headquartered company will take over the day-to-day management of Bank of Ireland Real Estate Investment Management, adding €1.6bn worth of commercial property assets to its management portfolio, in the process.
Bank of Ireland, which also yesterday announced the completion of its disposal of BoI Securities Services to the US-based Northern Trust Corporation, will still have overall control over the private banking client property portfolio, but added that the money changing hands is largely immaterial to its capital raising efforts.
