New York-based Tishman Speyer has hired Anne Westbrook to lead its US capital raising efforts, PERE can reveal.
Westbrook joins from Heitman, where she was an executive vice-president responsible for development, marketing and investor relations in the US Southeast. During her tenure, she oversaw the formation of the Chicago-based firm’s first global open-ended fund, the Global Open-end Core Plus Fund, securing $338 million in seed capital commitments. She also oversaw Heitman’s most recent US Debt Fund II fundraise, garnering $500 million in commitments.
“[Westbrook] has an extremely high real estate IQ and a great deal of experience on the debt and equity side,” Nate Shanok, senior managing director and co-head of global equity capital at Tishman Speyer, told PERE. “She has navigated multiple market cycles, which has earned her a reputation as a trusted partner to institutional investors.”
Westbrook will report directly to Shanok in her new role. She replaces Matt Brody, who joined Tishman Speyer in 2019 and left last year to join Apollo’s capital solutions business. Tishman Speyer worked with executive search firm Sheffield Haworth on Westbrook’s hire, a spokesperson confirmed.
Westbrook comes on board as Tishman Speyer is in the market with two funds. The manager is fundraising for its ninth European fund, European Real Estate Venture IX, which is targeting €1 billion, and its Proptech Venture Fund, which had secured $100 million last year and was targeting $125 million, according to PERE data.
While Westbrook will be responsible primarily for fundraising from US-based investors given her previous experience, she does bring relationships with investors in Europe and Asia, too, PERE understands. The firm’s most recent US-focused fund, US Growth and Income Fund, closed with $148.3 million in capital commitments in 2021, according to PERE data. Tishman Speyer closed its Breakthrough Fund in April 2022 with $2.1 billion in capital commitments to deploy into life sciences development in the US and Europe.
The firm declined to discuss specifics around potential new vehicles. “The market is in flux, which means there are tremendous opportunities both within traditional business lines where there’s dislocation and where we can refocus capital on new innovative products,” Westbrook said.
Before Heitman, Westbrook held capital raising positions at several private real estate firms, including Berkadia and Square Mile Capital.