The former head of Hines’ Italian unit has gained control of the unit and its €5bn of assets under management.
Manfredi Catella, who was previously head of Hines Italia and is honorary president of COIMA, gained approval from the Bank of Italy to take over the business that his family once ran and rename it COIMA SGR.
The COIMA brand was used by the Catella family when it established what became Hines Italia in 1974. COIMA SGR will operate alongside operating company COIMA.
COIMA SGR will now manage 13 real estate funds as well as mandates from 40 domestic and international institutional investors. Among mandated investors are the Qatar Investment Authority.
Manfredi Catella, chief executive of COIMA SGR, said: “The decision to invest permanently in Italy is aimed at strengthening a major national operator, which is able to compete at international level in accordance with best practices and market professionalism. Our planned platform can act as a partner for institutional investors and domestic operators, as well as a gateway to the Italian market for international investors.”
