Colony taps Brent Elkins from Morgan Stanley Real Estate

The former Morgan Stanley and AMB executive has joined Colony Capital to help the Los Angeles-based firm develop new funds. Colony is targeting $5.25bn for its two latest vehicles.

Colony Capital has hired Brent Elkins from Morgan Stanley Real Estate's placement businss to help the firm develop and raise new funds, PERE has learnt.

Elkins rejoined Morgan Stanley in Boston in 2007 after a five-year spell at AMB Capital Partners, where he was director of business development.

According to PERE sources, Brent spent the past two years working for Morgan Stanley Real Estate's placement business as executive director, reporting to managing director Robert Weaver. He previously worked at Morgan Stanley between 1996 and 2001 in the investment banking division. He was a senior relationship banker for public and private companies, according to a biography on Harvard University’s Real Estate Academic Initiative website.

Elkins has also worked for Goldman Sachs Real Estate Principal Investment Area in New York, and also with the Trammell Crow Company in Houston and Stamford, Connecticut.

Elkin is believed to have joined Colony as vice president developing funds for Colony globally. He is based in the firm’s Boston office. Colony declined to comment.

Colony is currently raising two real estate funds, including the $4 billion Colony Investors IX vehicle and the $1.25 billion Colony Realty Partners III.

According to fund documents from Fresno County Employees' Retirement Association, the opportunistic Colony IX fund is targeting distressed assets globally, while Colony Realty III is a value-added vehicle focused on US office, industrial, multifamily and retail. As of 30 September 2008, Colony Realty III was charging management fees of 1.5 percent while Colony IX was charging management fees of 1.5 percent during the commitment period and 1 percent thereafter.