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BRG Advises Arizona State Retirement System in Acquisition of 50 Percent Stake in Mill Creek Residential Trust LLC

May 2, 2018
BRG press release

BRG advised Arizona State Retirement System (ASRS) in its $550 million acquisition of a 50 percent stake in Mill Creek Residential Trust LLC. The deal will allow ASRS direct control over this asset management platform while lowering its investment fees.  

BRG acted as ASRS's valuation and due diligence advisors in this deal. The BRG team advising ASRS was led by John Fenn and Brandon Cradeur.

BRG also represented ASRS on its 2016 investment in Ascent Resources, LLC.

Regarding these acquisitions, Michael Athanason, a Managing Director in BRG's Corporate Finance team, said, "ASRS's transactions are great examples of the growing LP trend towards direct investments. BRG is pleased that ASRS relies on us for both diligence and deal valuation support."

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