Claret Capital has lured Joseph Fox from Pitcairn Properties and opened a second US office as it builds its real estate platform.
Fox has been appointed global head of real estate after joining from Pitcairn where he was executive vice president of investments in charge of strategic planning, acquisitions and exits as well as capital markets. Prior to that, he worked as a senior vice president for property services firm, Richard Ellis.
In a statement, the firm said Fox would be based in Philadelphia, its second US office. It first office opened in New York office in January this year. It now has a team of seven investment professionals based in the US, focused on private equity, real estate and alternative capital market investments.
Tom McAleese, Claret’s partner and chief operating officer, said the firm had ambitious plans to grow its real estate programme. “In the context of deteriorating economic conditions globally, we see increasing opportunity and compelling value across a range of sectors to deliver superior returns for our investor group. Real estate is no exception.”
The firm, founded by Dómhnal Slattery in 2005, manages the assets of a small number of high-net worth individuals and families and has a global investment mandate. Recent real estate investments include the St. Regis Hotel in Washington DC. Claret Capital has also founded a number of new ventures including JetBird, Europe's first low-cost, on-demand private jet airline.