Valad hires investment manager, Europe

The Australian property group, which has a stand at this year’s Expo Real property show, has hired Robert Rackind to join its European team.

Valad Property Group, the Australian-listed real estate company, has beefed up its investment capabilities by hiring Robert Rackind as investment manager for Europe.

Rackind joins from Cambridge Place Investment Management, where he was real estate head of asset management based in London from April 2006.

Prior to Cambridge, Rackind was a vice president of European private equity real estate firm, Meyer Bergman, where he managed a €100 million investment vehicle. He has also worked for US developer and real estate investment firm Hines.

Valad, which specialises in value-added investments, is hosting a stand at the Expo Real property show in Munich this week, where Rackind and members of the Valad team are participating.

In Europe, the firm manages a number of funds spanning various sectors, geographies and strategies, including Valad's UK Opportunity Fund. In July, the firm held a first close on its $A822 million (€398 million, $542 million) French industrial property fund Parc d’Activities, raising €96 million from nine institutional investors.

Martyn McCarthy is chief executive of Valad's European business. Didier Tandy is head of property, while Paul Oliver is head of Valad Equity Partners responsible for new funds.