BDT & MSD Partners have agreed to acquire Sunrise Senior Living from the Public Sector Pension Investment Board (PSP Investments), in partnership with Sunrise’s senior leadership team, led by CEO Jack R. Callison, Jr. No financial terms were disclosed. BDT & MSD will be the majority investor. The Sunrise leadership team will stay in place and continue to manage the company’s communities, investing significant personal capital alongside BDT & MSD.
Founded in 1981 and based in Mc Lean, Virginia, Sunrise operates more than 230 communities across the US and Canada, serving more than 22,000 residents. Its platform includes a development pipeline of more than 50 new communities with an expected development cost of about $7.5 billion.
“The need for high-quality senior living is growing, and we believe Sunrise has the leadership, reputation, and platform to meet it,” said Coburn Packard, head of real estate equity at BDT & MSD. BDT & MSD is a merchant bank formed in 2023 through the combination of BDT & Company and MSD Partners.
PSP Investments first invested in Sunrise in 2014 and became its sole owner in 2023. The deal is expected to close in 2027. JP Morgan Securities and Jones Lang La Salle Securities are advising PSP Investments.
Source: PE Hub · Summarized by HeadlinesBriefing