TRANSACTION SUMMARY

Forum Partners Investment Management, LLC (Forum) and La Française, an affiliate of Crédit Mutuel Nord Europe (CMNE), announced that, subject to regulatory approval, La Française will acquire a 24.9% in Forum through an issuance of new shares. They have entered into a strategic partnership encompassing a substantial capital commitment to Forum’s global suite of real estate investment strategies and collaboration on a series of new European investment products, including a joint venture to develop European direct real estate products.

The partnership will combine Forum’s global real estate private equity, debt and securities capabilities with La Française’s proven leadership in French direct real estate and senior debt. In support of this partnership, CMNE and La Française will allocate over $600 million in capital across each of Forum’s principal investment strategies, beginning with over $200 million to Forum’s European debt platform, including mezzanine and senior debt. La Française will also commit capital to Forum’s global securities business, to its Asian private equity strategy and to potential expansion opportunities in the Americas. In addition, both Forum and La Française will gain access to the other party’s institutional and retail distribution network globally.

LA FRANCAISE

La Française is one of Europe’s largest fund managers, with assets under management of $50 billion of which $9 billion is in real estate. For more than 35 years, La Française has been developing specific expertise as an investment manager of listed and unlisted securities and real estate assets while also providing comprehensive investment solutions. For more than 10 years, La Française has also been a major player in the acquisition of minority shareholdings.

FORUM

Forum is an independent global real estate investment management firm with $5.7 billion of capital committed and under advice. Through its expertise across debt and equity and public and private markets, Forum provides growth and restructuring capital to real estate operators and also invests directly at the property level. Forum sets out to achieve attractive medium/long-term returns for investors in an environment of contained risk with capital protection at its heart. Forum has offices in London, Hong Kong, Tokyo, Beijing, Seoul, Singapore, Mumbai, Sydney, Greenwich (Connecticut) and Santa Fe (New Mexico).

ROLE

SHP acted as financial advisor to La Française.