Domain Capital Group Completes Acquisition of Simpson Housing Multifamily Platform from State of Michigan Retirement Systems

Domain Capital Group, an Atlanta-based multi-strategy investment management firm, completed its acquisition of Simpson Housing from the State of Michigan Retirement Systems (SMRS) on March 9, 2026, the companies announced. The transaction formalizes a partnership spanning more than 30 years.

Transaction Background and Strategic Rationale

The deal transfers ownership of Simpson Housing — a multifamily platform founded in 1948 — from SMRS to Domain Capital Group, which manages approximately $8.3 billion in assets under management across private markets including real estate, media and entertainment, timberland and natural capital, and special situations. Domain had served as Simpson's investment adviser since 2008, and senior Domain executives first advised Simpson during their tenure at PwC more than 30 years ago.

The acquisition reflects Domain's stated strategy of growing its real estate platform through vertically integrated operating businesses.

Simpson Housing Will Continue to Operate Under Existing Brand and Leadership

According to the announcement, Simpson Housing will continue to operate as Simpson Housing, with no changes to its brand, culture, or executive leadership. Frank Rooney Jr. will remain as chief executive officer, and the existing executive team will stay in place. Day-to-day operations, including leasing teams, maintenance staff, and community managers, are expected to continue without interruption.

Capital Formation and Growth Opportunities Ahead

With Domain's backing, Simpson Housing is positioned to pursue expanded portfolio growth. The announcement identified three primary areas of change under the new ownership structure: greater capital flexibility to support growth and new development, expanded institutional investment capabilities including new fund vehicles for institutional investors, and broader resources to support portfolio expansion across key U.S. markets.

Simpson Housing's operational approach — characterized by resort-style amenities and a service-first model — has defined its market positioning since its founding in 1948. Domain's acquisition is structured to preserve those attributes while adding capital resources to support future growth.

About the Parties

Domain Capital Group is headquartered in Atlanta and invests across private markets. Its real estate activities represent one component of a broader multi-strategy platform. The acquisition of Simpson Housing marks an expansion of Domain's direct real estate operating capabilities.

Simpson Housing, also known as Simpson Property Group, is a vertically integrated multifamily developer and operator. The company has operated since 1948 and manages apartment communities across the United States. Prior to this transaction, the State of Michigan Retirement Systems held ownership of the platform.

Financial terms of the transaction were not disclosed.