Marble Capital, a Houston-based investment advisory firm focused on multi-family rental housing across the United States, announced today that the firm has signed definitive agreements to enter into a partnership with Navigator Global Investments (ASX: NGI). The transaction is expected to close in late April 2022. In the deal, Navigator will purchase a minority stake in the business and become a passive, non-voting minority partner. Most of the capital will be used to support Marble Capital’s near term growth initiatives, including funding larger general partner commitments to Marble Capital funds.
With Navigator, Marble will benefit from the deep experience and relationships of the Navigator leadership team. Additionally, as Navigator is a portfolio investment of Dyal, a division of Blue Owl (NYSE: OWL), Marble is joining a broad ecosystem of leading alternative asset managers with access to a team that focuses on sharing insight into industry best practices and access to various capital providers. The partnership will allow the firm to invest more significantly in its various funds while also providing balance sheet capital to create and implement new products.
“We are extremely pleased to partner with Navigator as we enter into the next stage of growth at Marble Capital,” said Adam Allen, co-founder and managing principal at Marble Capital. “We believe Navigator’s commitment to the company validates our strategy, underwriting process and the team we’ve assembled over the last five years.”
David Oelfke, Marble Capital co-founder and managing principal added “a partnership with Navigator provides us a long term and aligned partner to accelerate certain growth initiatives, gain access to a deep industry network and best practices to leverage over time.”
Michael Shepherd, Navigator Chairman commented “This is a strategic and compelling opportunity to partner with a successful and growing asset manager that brings diversification to our existing investment portfolio and will create value for Navigator shareholders. We look forward to continuing to support the Marble Capital team.”
Colchester Partners LLC served as financial advisor to Marble on the transaction. Holland & Knight LLP served as legal counsel to Marble. Sidley Austin LLP served as legal counsel to Navigator.
About Marble Capital
Established in 2016, Marble Capital currently manages $1.4 billion in AUM across a series of closed-end private equity funds. The company provides flexible capital solutions for multifamily real estate developers and operators across the United States with a portfolio consisting of more than 20,000 multifamily units across US$4.5bn in transactions. Marble is headquartered in Houston, TX and is managed by a group of accomplished real estate professionals with 150 years of combined experience in real estate finance, capital markets, development and operations. For more information, please visit https://marblecapitallp.com
Navigator Global Investments Limited (ASX: NGI) is a diversified asset management holding company dedicated to partnering with leading management teams who operate institutional quality businesses globally, primarily in the alternative investment management sector. Navigator has US$21.6 billion of AUM (31 December 2021) on an ownership adjusted basis across Lighthouse Partners and its strategic investment portfolio. For more information, please visit www.navigatorglobal.com.au