COLORADO SPRINGS, Colo. (December 26, 2019) – – Alternative asset management firm The Convergence Group recently acquired Chicago-based Foresite Realty Partners on behalf of Convergence’s managed fixed income fund, ASI Capital Income Fund.
The Convergence Group, which is helmed by CEO C. Ryan Dunham, is based in Humacao, Puerto Rico, with offices in Colorado Springs, Colorado. TCG focuses on matching talent and capital through private equity, private credit, real estate investment and healthcare venture development. The Chicago-based Foresite, led by President and Managing Broker Ryan Nelson, is a full-service real estate company encompassing office, industrial, retail, hospitality, residential, multi-family and student housing and mixed-use properties in the Midwest, Mid-Atlantic and Southeast. Earlier in 2019, Foresite founder and President Don Shapiro sold and left the company creating an opportunity for The Convergence Group’s
managed funds to own 100 percent of Foresite.
“As The Convergence Group continues to build a platform of collaborative companies and strategic initiatives, Foresite is a perfect fit,” says Dunham. “Foresite provides management services for commercial real estate, brokerage, receivership, bankruptcy and more, making it a known expert and ideal integrated fit for other assets in the ASI Capital Income Fund, improving performance and building long term value.”
Nelson adds: “I am really excited about the synergies and growth prospects of working with The Convergence Group in 2020. As a boutique, turnaround real estate firm, Foresite creates value for our clients by implementing innovative, flexible and cost-effective solutions. For over 14 years, we’ve been a preferred advisor to institutional owners, commercial mortgage-backed securities servicers, national and regional lenders and third-party investors.”
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