Hines, the international real estate firm, today announced a new structure for the firm’s investment management platform, a transformation that strengthens its ability to develop, acquire and operate best-in-class real estate assets globally in partnership with current and future institutional and retail investors. With $124.3 billion of assets under management, Hines is currently the second-largest real estate investment manager in North America and the fourth globally, according to Institutional Real Estate, Inc.
Hines’ new structure will encourage more large investors to work directly with the firm in a variety of collaborative ways with the goals of achieving their objectives and simplifying the process.
The new investment management platform will be co-led by Global Chief Investment Officer David Steinbach and CEO of Capital Markets Chris Hughes. The platform is designed to support current and future investment products and meet the demands of the world’s most-savvy investors, who are increasingly taking a strategic approach to their investment manager relationships and looking for partners who can meet their needs across several dimensions with a focus on skillful and timely equity capital allocation, value creation advantages at the property level and cultural and strategic meetings of the minds.
“Our vertically integrated real estate service model has been honed and time-tested for the past six decades, and we are known as passionate, multi-sector property experts,” commented Hines President and CEO Jeffrey Hines. “Our Investment Management business, which began in ‘91, has grown steadily, as our business has grown, and now we are in the position to achieve more-meaningful scale for the largest and most-savvy investor partners as they consolidate their universe of managers. We are raising the bar on ourselves in terms of how we service investors.”
Hines has initiated 57 investment vehicles since 1991 and currently runs large core and value add funds in Europe, the private, non-listed Hines Global Income Trust and a number of significant separate accounts for large global investors. The firm is working proactively and collaboratively with current and future investors on new product offerings.
Joining Steinbach and Hughes are three new geographic Chief Investment Officers overseeing investment strategies in the Americas, Europe and Asia. These new CIOs—Alfonso Munk, Alex Knapp and Lee Timmins—will direct all institutional and retail investment vehicles in their geographies and will join the firm’s Investment Committee, making it a more-global decision-making body that can nimbly respond to the best real estate opportunities at any given moment around the world. The new CIOs are “board-level” positions with seats on the firm’s Executive Committee.
Source : Company