Fairfield names new head of equity fundraising

Fairfield Residential, which manages approximately 50,000 apartment units across the US, has appointed Alan Bear as senior vice president. In his new role, he will oversee equity fundraising and investor relations, with a focus on both domestic and foreign institutional investors.
 
Bear will be raising money through separate accounts and via club-type capital and programmatic joint ventures, with three to five investors targeted for each programme. “We’re targeting scalable investors that want to build a diversified multifamily portfolio,” he said. Fairfield, which was recapitalised by Brookfield Asset Management last year, has invested more than $4 billion in equity on behalf of numerous institutional partners.
 
During his 25-year career in investment banking and real estate, Bear has served as a fundraiser and advisor in real estate and operating company transactions totaling more than $6 billion. Before joining Fairfield, he served as a managing director at Alvarez & Marsal’s private equity real estate investment platform. Prior to that, he was a principal at Probitas Partners, where he was part of a team that raised more than $2 billion for real estate funds, club deals and separate accounts.
 
The Fairfield team has developed and acquired more than $18 billion and has sold more than $10 billion in multifamily investments.  In the first nine months of 2011, the company began nearly $100 million in new development projects and has assembled a development pipeline of more than $800 million in eight US markets.