Large Platform Events | Issue 24.28

 

Summary of Transaction Headlines

IREI | “H.I.G. Capital Locks in $1.3 Billion for Europe Realty Fund III, Surpasses Target”

H.I.G. Capital, a global alternative investment firm with $64 Billion of capital under management, has announced the final close of H.I.G. Europe Realty Partners III. The fund closed with aggregate capital commitments of approximately $1.3 Billion, including separately managed accounts that co-invest alongside the fund. This significantly surpassed the predecessor’s fund size. Europe Realty Partners III was backed by a diverse and global group of limited partners, including public and private sector pensions, endowments, foundations, asset managers, consultants, fund-of-funds, financial institutions, and family offices in North America, Europe, Asia, and the Middle East.

Property Week | “DWS UK CEO Hardman Departs to Launch Real Estate Venture With Downing”

Jessica Hardman, the former Head of European Portfolio Management and UK CEO of DWS, has set up a new real estate investment management business with UK real estate firm Downing. Hardman and Downing have launched Aboria Capital, a company that will be seeded with Downing’s €1.89 Billion ($2.04 Billion USD) pipeline. Downing’s portfolio pipeline includes 10 new UK projects slated for construction in 2025 and 2026, including the flagship £400 Million ($513 Million USD) Square Gardens co-living scheme in Manchester, which will comprise over 2,500 beds once completed.

Housing Today | “Guinness Appoints New Chief Financial Officer”

Paul Love will replace Phil Day, who joins Peabody in September. The Guinness Partnership has appointed Paul Love as its new Chief Financial Officer. Love is promoted from Group Director of Care and Support, a role he has carried out since August 2022.

PERE | “PIMCO Makes Senior Real Estate Leadership Changes”

Five PIMCO Real Estate Executives have assumed new leadership responsibilities amid other senior departures at the business. The investment manager, based in Newport Beach, California, has promoted Ravi Anand and Roman Kogan, Executive Vice Presidents and Portfolio Managers, to Global Co-Heads of PIMCO commercial real estate private lending. Anand was formerly Head of US Commercial Real Estate Private Credit and has worked at the firm since February 2018. Kogan, who previously was responsible for private commercial real estate debt strategies in Europe, joined in April 2020.

Pensions & Investments | “GAM Names Co-CIO of New Specialist Alternative Investments Unit”

Randel “Randy” Freeman has joined investment manager GAM as Co-Head and Co-CIO of GAM alternatives, the firm’s new specialist alternative investments unit. It is a new position, a spokesperson confirmed. Freeman will work closely with fellow Co-Head and Co-CIO Albert Saporta to build out GAM’s alternative investment capabilities.

Business Wire | “Collins Named Store Space President, COO”

Store Space Self Storage, a top 25 self-storage owner, operator, and developer, announced that David W. Collins has been promoted to President and Chief Operations Officer with immediate effect. In his new role, Mr. Collins will oversee the company’s daily operations as well as the implementation of the company’s strategic vision to grow its footprint and increase value for investors.

IREI | “Anny Zhang to Become CEO, China at JLL in September”

JLL has named Anny Zhang as CEO, China, effective Sept. 1. Based in Shanghai, Zhang will lead JLL’s business in mainland China, driving growth and ensuring operational excellence across business lines and services, nurturing client relationships, and strengthening the firm’s position in the market. “I am delighted that Anny is taking on this important leadership role for our business in China,” said Anthony Couse, CEO Asia Pacific, JLL.