TPG & PAG consortium completes acquisition of Cassidy Turley

Chicago -- Commercial real estate services firm DTZ announced that Cassidy Turley and DTZ are now operating as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.



The consortium acquired DTZ in November 2014, and the combination of Cassidy Turley and DTZ creates a global top-three commercial real estate services company representing $2.9 billion in annual revenues and managing 3.3 billion sq. ft. globally.



As announced previously, Tod Lickerman will be the Global CEO of the integrated company. Joseph Stettinius Jr., Cassidy Turley’s CEO, is now CEO of the Americas, while Brett White, former CEO of CBRE Group, who also invested in the acquisition, will become full-time executive chairman in March 2015.