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Colony Capital to merge with Colony Financial

Published Wed, Nov 5, 2014 · 09:50 PM
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COLONY Capital LLC, the investment firm founded by Thomas Barrack Jr that has US$19 billion of assets, has agreed to combine management with Colony Financial Inc, a real estate investment trust also started by the billionaire.

The agreement calls for the payment of US$657.5 million in Colony Financial securities, of which US$547.5 million would be paid up front and as much as US$110 million would be contingent on fundraising and performance targets, the Santa Monica, California-based company said on Tuesday in a statement. The arrangement is scheduled for completion in the first half of 2015, with the combined company to be called Colony Capital Inc.

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