Edward Bates, the former co-head of real estate at private equity firm Doughty Hanson, has taken up a new position as managing director of Paris-based STAM Europe.
Bates, who left Doughty Hanson in 2010, will work closely with STAM Europe-chairman and founder Antoine de Broglie.
STAM Europe, which was founded in 1997 and is 50 percent owned by Secured Capital and 50 percent by de Broglie, has around €1 billion of assets and is currently concentrating on fresh deals in Spain and Italy, with a smaller percentage of time being focussed on France.
In a statement the company said its strategy was to leverage its investment management and active real estate experience across Europe to create value for its investors. It is currently targeting €1 billion of opportunistic and core plus investment and development opportunities in the Eurozone.
Bates will share responsibility for the firm and “further the overall investment strategy as well as originating and leading investments across STAM Europe’s key European markets,” added the company.
De Broglie said of the new addition: “I am delighted that Edward is joining the firm. His depth of experience in private equity and real estate will contribute greatly to STAM Europe’s already successful and consistent investment strategies. Edward brings new leadership and will be the driver of our future growth.”
Bates worked at Doughty Hanson for three years. Prior to joining the London-based firm he was at Orion Capital Managers for a total of eight years.