PITTSBURGH — Federated Hermes is expanding its real estate capabilities in the U.S. via its second private markets acquisition of 2025.
The Pittsburgh-based investments giant is acquiring 80% of FCP Fund Manager LP, a privately held U.S. real estate investment manager based in Chevy Chase, Maryland. FCP has invested in, operated and/or financed more than $14.6 billion in gross asset value since inception, including more than 75,000 multifamily apartment units.
The aggregate purchase price of up to $331 million includes $215.8 million in cash consideration and $23.2 million in Federated Hermes Class B common stock that will be paid and issued at closing, expected during the first half of 2026.
“Upon closing, this transaction will allow Federated Hermes to enter the U.S. real estate market at a time when the multifamily sector enjoys strong fundamentals and significant growth opportunities,” J. Christopher Donahue, president and CEO, said in a prepared statement.
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