CBRE Global Investors has won a $200m (£120m) discretionary mandate from a collection of large Asian insurance companies.
The investment manager’s Separate Accounts Group is to build a core/core plus real estate portfolio in the United States and Europe.
The mandate, which is expected to grow over time, will target both debt and equity investments across property sectors in the top 25 markets in the United States and large urban zones in the United Kingdom, France, and Germany.
CBRE GI said it has seen significant growth in its separate accounts platform, “which provides clients with more customisation and control over how their capital is invested”.
In 2013, the firm raised $3.3bn of capital for separate accounts, including $1.2bn to be invested cross-border. Asian investors have been particularly active deploying capital via separate accounts in Europe and the US.
“Investors are increasingly diversifying their real estate portfolios by looking abroad,” said Matt Khourie, global chief executive of CBRE GI.
“Due to our broad geographic scale and consistent regional competencies, we are a global leader in separate accounts and have a unique advantage to migrate capital across borders efficiently and effectively” he added.
Peter DiCorpo, Americas Head of Separate Accounts for CBRE GI said: “Having real estate experts based in the client’s home country helps facilitate communications in the same language and time zone. This, coupled with on-the-ground experts in the target markets, allows for best-in-class execution,” said.
Other key team members involved in this mandate include Richard Price, Asia Pacific chief executive; James Clifton-Brown, EMEA head of separate accounts; Jeff Torto, who serves as the overall portfolio manager; and Andy Glanzman, who spearheaded the debt element of this mandate.
Bridget.O’Connell@estatesgazette.com
