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Forum Partners captures Citi RE securities team

Forum Partners has expanded its business by buying the global real estate securities platform of Citi Alternative Investments. The deal sees Forum inherit a platform responsible for managing $450m of equity.

Forum Partners has purchased a global real estate securities team from Citi Alternative Investments for an undisclosed price.

The Greenwich, Connecticut-based firm has purchased a team of 13 professionals led by industry veteran Daniel Pine. The team manages 15 funds and separate accounts with a total of $450 million equity under management. Investors include Canadian Scotiabank and Counsel Wealth Management.

The team has joined Forum Partners’ affiliate company Forum Securities.

Forum Partners, which also has offices in Toronto, Hong Kong and London, has raised $2 billion of equity since its inception in 2002 for three European and two Asian property funds investing in both public and private property.

The firm is led by three ex-Security Capital directors: Russell Platt, Andrew Walker and Caroline McBride. In March, Forum added veteran real estate banker Richard Cotton to the ranks to help invest its latest European effort.

Platt, Forum’s chief executive officer, is no stranger to investing in real estate shares having previously worked in Morgan Stanley’s real estate securities business.