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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Security Capital Research & Mgmt. Inc. (GE Capital Real Estate)
  • Bank One Corporation
  • Real Estate Managers
  • September 16, 2003
  • $3.5 Billion

Seller Details

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 trust 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.

Buyer Details

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 and nearly 7 million retail household and over 20,000 middle market customers. Bank One manages $171 billion of clients' investment assets.

Banc One Investment Advisors, an SEC-registered investment advisor, has $171 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.

Transaction Summary

Security Capital Research & Management will become a wholly owned subsidiary of Banc One Investment Advisors and continue to operate as a distinct investment team. Security Capital Research & Management’s outstanding team of investment professionals will continue to oversee the rigorous investment process that has consistently generated the Company's solid track record.

The acquisition of Security Capital Research and Management, bolsters Bank One's asset management operations and helps it develop a strong presence in the alternative asset class. The acquisition makes Bank One one of the largest institutional real estate securities investment managers and expands its existing product offerings by adding a high performing product portfolio of private and public REIT securities and real estate operating companies.

Partnering with Bank One and joining its investment and research platform enhances Security Capital Research and Management's ability to create new real estate investment products and to expand its base of institutional clients.

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