JLL has hired Jerry Cain as head of global funds advisory in the Americas, PERE has learned.
Cain started in the newly-created position at the property services company last month in New York. He reports to Matilde Attolico, global head of the funds advisory team, and Blake Lacher, who leads investment banking and advisory services for the Americas.
His appointment comes as Chicago-based JLL builds out its fund advisory platform, aiming to have the largest team globally by the first quarter of 2019, PERE understands. JLL aims to have 25-30 dedicated staff across seven offices.
Last spring, JLL recruited Attolico and Zeynep Fetvaci from boutique private real estate capital advisory firm Hodes Weill, where both executives were managing directors, PERE previously reported. At Hodes Weill, Attolico covered institutional investors in Europe (excluding the Netherlands) and the Middle East, while Fetvaci also focused on European investors.
Those hires were followed by that of Martijn van Eldik, who joined JLL’s Singapore office in July 2017 as Asia Pacific head of the funds advisory team, PERE previously reported. Eldik spent the preceding five years at Morgan Stanley Real Estate Investing.
The growing team is part of a concerted effort by JLL to expand its fundraising capabilities in response to growing demand by institutional investors to access private real estate investments, not only through funds, but also via other structures – such as separate accounts, joint ventures and club transactions. PERE understands JLL is planning additional hires in multiple regions.
Cain, the firm’s newest hire, spent four years at Lazard Freres, where he was a director in the private capital advisory group. There, he led US distribution efforts, managing limited partner relationships on the East Coast and Midwest. Lazard could not be reached for comment. Before that, Cain worked at Birmingham, Alabama-based Harbert Management Corporation for three years, where he focused on capital raising for US and European funds.
“He has a great track record in raising private capital,” Lacher said. “We see tremendous opportunity to assist global capital sources across the Americas, either in traditional fund formats, or in a range of joint ventures or partnership structures.”