News
September 16, 2003
CHICAGO, September 17, 2003 - Bank One Corporation (NYSE: ONE) today announced it entered into an agreement to acquire Security Capital Research & Management Incorporated, a registered investment advisor and recognized expert in developing real estate investment products for institutional investors, from GE Real Estate. The transaction, which is subject to regulatory approvals and other customary conditions, is expected to close by the end of 2003. Terms were not disclosed.
Security Capital Research & Management will become a wholly owned subsidiary of Banc One Investment Advisors and will continue to operate as a distinct investment team.
Chicago-based Security Capital Research & Management is one of the leading U.S. managers of real estate securities, providing clients with a wide range of investment products principally through separate accounts, mutual funds and a private real estate investment company focused on convertible preferred private equity placements. The company manages approximately $3.5 billion in real estate investments and has an excellent long-term investment record, consistently outperforming the industry over one-, three- and five-year periods.
"The Security Capital Research & Management acquisition expands our growing asset management capabilities and bolsters our strategy to provide institutional clients with a wide range of high-performing products," said David J. Kundert, chief executive officer of Bank One's Investment Management Group. "Security Capital Research & Management's outstanding team of investment professionals will continue to oversee the rigorous investment process that has consistently generated their solid track record."
"Joining Bank One's highly regarded investment and research platform enhances our ability to create new real estate investment products and to appropriately serve our expanding base of institutional clients to the greatest extent possible," said Anthony R. Manno, Jr., president and chief executive officer of Security Capital Research & Management.
Bank One Corporation ( www.bankone.com ) is the nation's sixth-largest bank holding company, with assets of nearly $300 billion. Bank One currently has more than 52 million credit cards issued, nearly 7 million retail households, and over 20,000 middle market customers. It also manages more than $170 billion of clients' investment assets.
Banc One Investment Advisors, an SEC-registered investment advisor, has more than $170 billion in assets under management in institutional and individual accounts including One Group Mutual Funds. Banc One Investment Advisors is an indirect, wholly owned subsidiary of Bank One Corporation.
Preceding press release obtained from Banc One at www.bancone.com . Berkshire Capital has reprinted this press release substantially in its entirety.
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