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Türkiye-based real estate investment and development conglomerate Bilgili Holding’s asset management subsidiary, BLG Varlik Yonetim, announced Friday that it is ending its asset management operations after seeking the cancellation of its operating license.
The statement came after the Banking Regulation and Supervision Agency (BRSA) declared that BLG Varlik Yonetim’s license was canceled, effectively ending the company’s asset management activities.
The company clarified that the regulator’s decision followed an application by BLG Varlik Yonetim to withdraw from the business, a move it linked to its medium- and long-term strategic planning.
The move ends BLG Varlik Yonetim’s asset management activities but does not involve the closure of the company, which is preparing for a restructuring process.
As part of the restructuring, the company will remove the phrase "asset management" from its corporate name and revise its business activities in line with its new strategic objectives, according to the statement.
Founded in 2010, Bilgili Holding has built a broad real estate portfolio spanning commercial offices, retail, luxury accommodation, residential projects and mixed-use developments. The group also operates in tourism and global asset management, with projects across Türkiye, the United States and Europe.
BLG Capital, the conglomerate’s real estate investment arm, has a portfolio covering 2.2 million square meters, with €3.7 billion in equity invested and a total transaction size of €8.6 billion, according to information on its website.
Its portfolio includes major Istanbul projects such as The Peninsula Istanbul, Soho House Istanbul, Galataport Istanbul and The Ritz-Carlton Residences Istanbul, as well as properties and developments in New York, Miami, Beverly Hills and Italy.
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