TGP was going to pay $5m for IAP's funds management business. They must be fairly disappointed that portion of the deal fell through. Considering the $5m included the co-investment stakes, as well as the fact that the funds management business was on track to generate $6.1m annual revenue (FUM $1.8B).
Did CHC give TGP a sweetheart deal at the expense of PGGM (a behemoth that probably paid little attention to anything but the properties)?
It seemed like a stretch that IAP's investment partners would be just as happy to work with TGP as IAP on these deals/developments.
TGP was going to pay $5m for IAP's funds management business....
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