Buchanan Street Partners Sells Majority Stake

LOS ANGELES - The TCW Group (TCW), an international asset-management firm with over $150 billion in assets, today announced the acquisition of a majority interest in Buchanan Street Partners, a national real estate investment manager and advisor. The financial terms of the agreement were not disclosed. Buchanan Street will continue to operate autonomously through its management team from its headquarters in Newport Beach, Calif.

Buchanan Street provides real estate capital and advisory services to owners and developers through offices in California, Chicago and Atlanta. Buchanan Street manages more than $1 billion in committed capital across several funds on behalf of large institutional clients and high net worth individuals and executed more than $3.8 billion in transaction activity in 2006. The relationship between TCW and Buchanan Street will give TCW clients direct access to the real estate asset class and provide Buchanan Street with increased distribution resources.

“We are committed to expanding our product offerings to include the most attractive investment ideas for our clients, including access to the important real estate asset class,” said Robert Beyer, Chief Executive Officer of TCW. “This strategic investment provides TCW with a first-class partner in the real estate investment sector. Buchanan Street has a solid track record for delivering innovative investment opportunities for their clients and is managed by a strong team, dedicated to investment excellence. I believe our shared cultural values of innovation, expertise and integrity will serve to foster a valuable long-term partnership, which will lead to greater opportunity for our clients.”

“This relationship with TCW is a natural step in moving Buchanan Street to the next level,” said Robert Brunswick, President and CEO of Buchanan Street Partners. “We complement each other’s capabilities. They provide us with capital strength and access to their investor base and extensive global investment platform. In turn, we can help TCW expand their alternative investment offerings by now providing their clients with direct access to U.S. real estate investments.”