Hines is closer to launching its new European core-plus fund after appointing Jorge Duarte as fund manager.
The Hines European Property Partners fund will leverage Hines’ expertise and boots on the ground in 16 offices across Europe to identify investment opportunities in “dynamic urban centres” and gateway cities. It aims to bring in €1bn (£836m) in investor equity in the first 12 months to acquire and develop sustainable assets across logistics, offices, residential, student and senior housing.
Duarte (above left with Alex Knapp) joins from Barings, where he worked for more than 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. Prior to that he spent five years at AXA IM Real Assets, where he was fund manager of a pan-European value-add fund, and three years as a southern Europe manager at Howard Holdings.
Duarte said: “After spending more than 20 years in portfolio analysis and fund management, the opportunity to work alongside real estate specialists to establish a dynamic new vehicle in Europe drew me to Hines.
“The firm’s boots-on-the-ground approach, deep sector and technical expertise, and access to global capital is impressive and provides a strong platform to create another unique and high-quality vehicle for real estate investment in Europe.”
HEPP will complement Hines’ existing European funds, the Hines European Core Fund and the Hines European Value Fund series.
Alex Knapp, Hines’ chief investment officer for Europe, said: “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.”
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