(LONDON) – Hines, the international real estate firm, is set to launch Hines European Property Partners (HEPP), its new diversified, open-ended core-plus fund focused on key European markets. Jorge Duarte, who joins Hines from Barings, has been appointed as Fund Manager.
HEPP will leverage Hines’ expertise and boots on the ground presence in 16 offices across Europe to identify investment opportunities in Europe’s most dynamic urban centres and gateway cities. The Fund will seek to acquire and develop sustainable assets across a range of sectors including logistics, office, living – residential, student and senior housing. HEPP will launch later this year and aims to attract €1bn in investor equity to the strategy in the first 12 months from launch.
The Fund will combine Hines’ proprietary research framework with its execution platform to grow a portfolio of high-quality income producing assets. The strategy will seek to maximise value at the asset-level through active management while undertaking select developments to create next-generation product to hold.
HEPP will sit alongside its global sister funds, Hines U.S. Property Partners (HUSPP) and Hines Asia Property Partners (HAPP), providing investors with a family of regionally targeted, diversified, open-ended core-plus funds using the same combination of strong local teams and tailored investment strategies to suit relevant sub-markets. HUSPP and HAPP, both of which launched in 2021, have already secured c$2.5 billion in combined commitments.
HEPP will complement Hines existing European funds, the Hines European Core Fund (HECF) and the Hines European Value Fund (HEVF) series. Both HECF and Hines European Value Fund 2 (HEVF 2) have market-leading ESG credentials as recognised by GRESB, each with long track records of delivering strong returns for clients.
Jorge Duarte, who has been appointed Fund Manager of HEPP, brings to Hines two decades of experience in investment management and fund analysis. Jorge joins Hines from Barings, where he worked for over six years, most recently as Managing Director and Head of Core Investing in Europe. He was responsible for strategy and investment selection for an open-ended pan-European real estate equity fund and oversaw the fund’s launch. Jorge spent an additional five years at AXA IM Real Assets, where he worked as Fund Manager of a pan-European value-add fund, and a further three years as Country Manager – Southern Europe at Howard Holdings.
Alex Knapp, Chief Investment Officer for Europe, at Hines, commented: “The success of HUSPP and HAPP indicates the global appetite for diversified and open-ended funds capable of data-driven, cross-sector investment and value creation. HEPP will add to this family of funds, while benefiting from Hines’ established sector-leading credentials in ESG focused European development and investment through our Core and Value Funds. Our European team of more than 650 people, with 16 local offices is well positioned to provide excellent deal pipeline along with the very best in execution quality.”
Source : Hines