Slate Asset Management, a real estate-focused alternative investment platform, agreed to acquire the commercial real estate business of Annaly Capital, a diversified capital manager, for $2.3bn. Subject to customary closing conditions, including applicable regulatory approvals, the transfer of the commercial real estate business is expected to be completed by the third quarter of 2021. "The acquisition of this platform further expands Slate's core capabilities across the real estate capital stack. Combined with our investment platform, sophistication, institutional relationships and operational expertise, we are uniquely positioned to provide creative debt capital solutions in the current market environment. Additionally, we are very excited to have the ACREG team members join us at Slate," Blair Welch, Slate Co-founding partner.