The global real estate and investment firm is to acquire the Federal Advisory and Scully Capital Services divisions of Value Recovery Group (VRG), a government consulting and asset management firm.
Based in Columbus, Ohio, VRG specializes in asset management services for government clients. The federal advisory division, which JLL is acquiring, focuses on P3 transaction and program management services for various federal government clients including the Department of Transportation and the Department of Energy.
Jill Jamieson, managing director at JLL, told P3 Bulletin: “We are expanding our P3 practice to meet explosive demand for P3 advisory services at the federal, state and local levels across multiple infrastructure sectors. This acquisition strengthens our delivery portfolio while creating an deeper and broader portfolio for growth.”
The acquisition will add 20 employees to JLL’s Public Institutions team including leaders from VRG’s federal advisory team, Brian Oakley and Ben VanBuskirk, who will hold senior leadership roles at JLL.
It is expected to close in November subject to customary closing conditions.