Berkeley Research Group Advises Arizona State Retirement System in Acquisition of 50% Stake in Mill Creek Residential Trust LLC

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May 02, 2018, 09:59 ET

NEW YORK, May 2, 2018 /PRNewswire/ -- Berkeley Research Group (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, 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."

About Berkeley Research Group, LLC
Berkeley Research Group, LLC (www.thinkbrg.com) is a leading global strategic advisory and expert consulting firm that provides independent advice, data analytics, valuation, authoritative studies, expert testimony, investigations, transaction advisory, restructuring services, regulatory and dispute consulting to Fortune 500 corporations, financial institutions, investors, major law firms and regulatory bodies around the world. BRG experts and consultants combine intellectual rigor with practical, real-world experience and an in-depth understanding of industries and markets. Their expertise spans economics and finance, data analytics and statistics, and public policy in many of the major sectors of our economy, including healthcare, banking, information technology, energy, construction and real estate. BRG is headquartered in Emeryville, California, with offices across the United States and in Asia, Australia, Canada, Latin America, the Middle East and the United Kingdom.

SOURCE Berkeley Research Group