NEW YORK and LONDON, July 1, 2013 /PRNewswire/ -- Urdang Capital Management, BNY Mellon's real estate investment manager, announced today it has changed its name to CenterSquare Investment Management.
The new name reflects the changes that have occurred at the firm over the last three years, including a 44 percent growth in assets under management to $9 billion, transition to new leadership, further expansion of its global markets, and a significant investment in world class talent within its public and private market investment teams.
"Worldwide, a city's center square is the heart of its vibrancy and the location of its highest strategic value," said E. Todd Briddell, chief executive officer and chief investment officer of CenterSquare. "Our new name symbolizes the strategic value we aim to deliver to our partners, namely strong performance built on an entrepreneurial culture and institutional strength."
CenterSquare was founded in 1987 and acquired by a predecessor company to BNY Mellon in 2006. With $9 billion in assets under management, CenterSquare invests in and manages public, private, global, and U.S.-only real estate strategies. Its clients include a wide range of institutions as well as high-net-worth individuals. It is headquartered in suburban Philadelphia, has a regional office in southern California, and is represented through affiliates in Singapore and London.Notes to Editors: CenterSquare was founded in 1987 under the name "Urdang" with an exclusive focus on institutional investment grade real estate. CenterSquare offers a variety of strategies and products, managing approximately $6.7 billion in public real estate securities through CenterSquare Investment Management, Inc. and approximately $2.2 billion (gross) in debt and private equity real estate investments through CenterSquare Investment Management Holdings, Inc. (together referred to as "CenterSquare"). It manages investments for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors. CenterSquare's research-driven process combines top down economic analysis and market/country selection with bottom up underwriting of properties, companies and management teams to seek high, risk-adjusted returns. It is one of the investment boutiques of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.4 trillion in assets under management. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com. BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon. All information source BNY Mellon as of March 31, 2013. This press release is qualified for issuance in the UK and US and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. This press release is issued by BNY Mellon Investment Management (US) and BNY Mellon Asset Management International Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. The value of investments and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested. Registered office of BNY Mellon Asset Management International Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorized and regulated by the Financial Services Authority. A BNY Mellon Company. SOURCE BNY Mellon
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