RVK, the Portland, Oregon-based consultancy, saw its entire real estate consulting group spin out last week to form a new firm that launched Monday, according to an announcement.
Led by three managing principals, Alignium – whose name derives from the word alignment – is based in Chicago. The Securities and Exchange Commission-registered investment advisor also has a Cleveland, Ohio office. A spokesman for RVK confirmed the departures but declined further comment.
The seven-person firm is first concentrating on real estate, with an interest in adding other real assets – such as infrastructure and agriculture – in future, Scott Krouse, one of the managing principals, told PERE. Its institutional investor client base, similar to the group’s clients at RVK, will include pension plans, sovereign wealth funds, endowments, foundations and family offices.
“We wanted to have an independent, standalone entity” from RVK, Krouse said. “It seems to be where the world’s headed. These large conglomerates that advise or manage all asset classes tend to be headed to a more specialist role.”
The team began talking with former parent company RVK in the fall about forming an independent group, but after discussions did not pan out, Krouse said the team decided to spin out independently. He said client feedback has been largely positive.
Dan Krivinskas and Mark Bartmann are the other managing principals, along with Krouse.