Who owns Turner & Townsend Holdings Limited (the Combined Project Management Business)

Turner & Townsend Holdings Limited (the Combined Project Management Business) - Profile

Turner & Townsend is a professional services firm headquartered in Leeds, England, that traces back to a quantity surveying partnership founded in 1946. It sells programme management, project management, cost and commercial management and advisory work to clients building real estate, infrastructure and natural resources assets, including data centres, transport networks, energy projects and manufacturing plants. On 3 January 2025 CBRE folded its own global project management arm into the business, creating a single organisation of more than 20,000 people working in over 60 countries under the Turner & Townsend name and the leadership of chief executive Vincent Clancy, who also sits on CBRE's board. Turner & Townsend reported revenue above 1.9 billion dollars in 2023, before the combination.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• CBRE Group, Inc., as of 30 Jun 2026. CBRE consolidates this entity (it is not an equity-method investee), so this is the consolidated-with-real-minority case, not a wholly owned subsidiary. In January 2025, CBRE contributed its own project management business to its majority owned Turner & Townsend subsidiary in exchange for an additional 10% interest, giving CBRE a 70% controlling interest in the renamed Combined Project Management Business (10-K, Note 4, and confirmed unchanged in the Q2 2026 10-Q, Note 4). The Turner & Townsend partners retain the other 30% and hold a Put Option, exercisable 1 Jan 2027 to 31 Mar 2030, requiring CBRE to buy the rest at fair value. That 30% interest is carried as Mezzanine Equity ('Redeemable non-controlling interests in consolidated entities') and was valued at $454 million as of 30 Jun 2026 (10-Q) and $433 million as of 31 Dec 2025 (10-K), both from discounted cash flow estimates of the business. value_usd here is MODELLED: it grosses up the disclosed 30% figure ($454m / 0.30 = ~$1,513.3m implied total equity value) and applies CBRE's 70% share (~$1,059.3m). The filings do not separately disclose the value of CBRE's own 70% interest. sourcesource 2