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Brookfield beefs up fundraising team

Canadian asset manager Brookfield, which last week announced the formation of a $4bn real estate investor club, says it has enhanced its capital raising team by hiring fundraising exectuives including three former Bear Stearns professionals.

Canadian asset manager Brookfield, which last week announced the formation of a $4bn real estate investor club, says it has enhanced its capital raising team by hiring several former Bear Stearns professionals.

Brookfield Asset Management has made five senior appointments aimed at boosting its capital raising capabilities.

The firm has hired Peter Thomson, Robert von Herrmann, Paul Tam, Alexander Apponyi and Scott White to manage its “global private equity institutional relationships”. The new recruits have joined as senior vice presidents and are to join the team headed by London-based Leo van den Thillart, who was hired in May.

“The appointments are designed to add considerable strength to our private equity funds group and provide us with broader and deeper geographic coverage, especially in Europe and in Asia,” said van den Thillart. “The appointments are part of a concerted program by Brookfield to enhance our global alternative asset management activities.”

Thomson will cover the UK and the Middle East and be based in Brookfield’s London office, von Herrmann will be based in Munich and focus on continental Europe, particularly German speaking counties, and Tam will focus on Asia from the firm’s Hong Kong office. All three joined from Bear Stearns & Co, JP Morgan where they formed part of its private funds group.

Apponyi will focus on Scandanavia and the Benelux countries having joined from BerchWood Partners where he was a partner. He also previously worked for UBS Investment Bank. White was recruited from Citi Alternative Investments as head of deal execution and deal manager responsible for capital raising program.

The appointments come less than a week after Brookfield announced it had garnered $4 billion in commitments from a number of institutions and sovereign wealth funds for an opportunistic investment program to span the next two years.

The firm, which has more than $80 billion of real estate and infrastructure assets under management, is among the first major  investors to adopt a consortium approach to real estate investing whereby it earns fees based on an agreement with investors to offer first refusal on all investments which meet the consortium’s criteria.

In doing so, it has offered investors an alternative model to opportunistic investing to the closed-ended, blind pool fund model whereby the manager has total discretion on all investments.