Rigorous screening, thoughtful structuring, and active management

Asset management

Focused on delivering investment performance for clients

We believe careful asset management is essential to being able to deliver long-term performance. We monitor the investment progress of each investment based on guidelines developed by our investment team, which is responsible for risk analysis, due diligence, investment approvals and portfolio construction. The investment team is comprised of eight senior members, five of whom have over 20 years, and two of whom have over 30 years of experience across the real estate investing arena, including direct acquisition and development, asset management, finance, and research.

Our asset management process starts with a comprehensive business plan review that is undertaken to support the investment decision. It is supported by long term relationship building and regular dialogue with the fund managers. We also collect extensive property operating information, both formally and informally. This information is aggregated in our proprietary database, which allows for active monitoring and comparison of our funds and their underlying assets; we currently track approximately 3,900 individual properties owned by our underlying funds.*

Once a commitment is made to an underlying fund, we track its performance in several key areas:

  • Capital flows as the investment programs unfold
  • Accounting reviews and audits
  • Detailed financial reviews of assets across their lifecycles, including actual performance and projected activity to enable us to understand likely outcomes and to better monitor, influence, and realize our investments
  • Comprehensive review of property level and fund level leverage
  • Manager-related financial, operational, and personnel-related issues

We remain actively involved with many of the funds in which we invest, and frequently serve on their advisory boards. From this position we gain insights about strategy, performance, and risk in the portfolios. Leveraging our direct investing experience, our shared experience as fund managers, and our broad perspective across funds, we can provide useful and welcome guidance to managers on critical issues related to fund structure and strategy. 

 

* As of December 2015.