With only a 7.4% increase, the investor also recorded a slower climb in real estate commitment compared with prior years.
The hiring of Michael Hoverman from CIM Group launches a new vertical for the $76bn US-based real estate manager.
The London firm now counts a sovereign fund among investors in the series, for which it also uses social media marketing to raise capital.
Commitments of $1bn to the asset management behemoth’s real estate strategies in Q2 trail its smaller peers.
The executive's promotion to chief of staff follows a senior management reshuffle announced at the end of July.
The €5.1bn acquisition of the insurer’s investment management business by the bank would also see the latter’s real estate business become significantly more diversified.
The manager, founded by Blackstone veteran Tyler Henritze last year, made its first publicly disclosed investment via a newly formed joint venture.
Commitments to the firm's latest opportunistic strategy are ‘materially higher’ than the figure revealed in its earnings statement, says CEO Harvey Schwartz.
The Los Angeles-based manager also expects to hold two real estate fund closes over the next two months.
Real estate equity in the US and Asia helped to drive the firm’s Q2 deployment in real assets to the highest level in over two years.