Strong Revenue Growth
Colliers reported a 17% year-over-year increase in revenues, reaching $1.3 billion for the second quarter.
Engineering Segment Performance
The Engineering segment showed remarkable growth with a 70% increase in net revenue, supported by acquisitions and 8% internal growth.
Investment in Growth
The company completed several acquisitions, including RoundShield Partners with $5.4 billion in AUM, enhancing their credit, student housing, and hospitality capabilities.
Increased AUM
Assets Under Management (AUM) increased to $103 billion during the quarter and over $108 billion pro forma for the acquisition of RoundShield.
Improved Fundraising
Fundraising improved with $1 billion raised in Q2, and an additional $0.5 billion since quarter-end, bringing year-to-date fundraising to $2.7 billion.
Positive Rebranding Efforts
Rebranding efforts, such as the Investment Management division into Harrison Street Asset Management, aim to leverage global recognition and expand capabilities.
Robust M&A Pipeline
The company completed several tuck-under acquisitions and maintains a robust M&A pipeline, anticipating further acquisitions throughout the year.