Evelyn Lee
The global head of the insurer’s alternative business said performance is the top priority as it works to decarbonize its €85bn real estate portfolio.
While most managers opt either to hire star talent to build a new business or acquire an existing platform, the New York-based firm chose to do both.
The new recruit completes the Atlanta-based manager’s global hiring spree of senior capital raisers over the past year.
Masked by the sector darling’s significant growth over the past four years, many miscalculations are now coming to a head.
The REIT, which will be seeded with a $1.6bn portfolio of assets, will be the largest vehicle of its kind focused on the sector.
Active private real estate investors are buying up assets from owners under pressure. But they are less fixated on bargains.
The acquisition comes eight months after the launch of the vehicle, which has a $5bn target, in August 2023.
New vehicle is the firm's first commingled fund for its global commercial real estate credit business.
The pension plan’s head portfolio manager is seeking to allocate more capital to emerging sectors like industrial outdoor storage.
The top executive at the Singapore-based firm expects Western capital to return to the market when risk-return dynamics have stabilized.
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