Experience

The breadth of our client mandates reflect the depth of our experience, and together with our clients, we constantly look for ways to improve performance, reduce risk, simplify administrative complexity and increase fee efficiency across their real asset portfolios.

Representative Client Engagements

Non-Discretionary Consulting

  • We work with a mid-size state pension fund to develop and implement a global real asset portfolio, comprised of public market securities, private funds, co-investments, secondaries and a customized separate account across real estate, energy, timber and agriculture.
  • We serve as a real estate consultant to a mid-sized insurance company, while also helping them to diversify their portfolio into other real asset sectors.
  • We assist a large university endowment with the build out of their real estate portfolio, including the formation of a number of joint ventures with skilled operating partners.
  • On behalf of a multi-family office, we assist in the construction of a direct portfolio of real asset fund investments and avoid the double-fee, double-promote structure of fund-of-funds.

Tailored Investment Solutions

  • We created two real estate co-investment vehicles for one of the largest state pension funds to pursue global value-add and opportunistic co-investments with both existing and prospective managers. We have since deployed that capital into nine co-investment transactions in North America, South America, and Western Europe.
  • Together with a pension fund client, we recognized that certain institutions were over-allocated to private investments and in an effort to generate liquidity, would need to sell secondary offerings at steep discounts on some of their private fund positions. To avoid the high fees charged by secondary funds and to give our client more control over investment decision-making, we created a dedicated secondary vehicle to pursue these opportunities.
  • We created a real asset co-investment vehicle with a mid-size state pension fund to enhance portfolio diversification while averaging down fees. We have since closed five transactions in the U.S. and Western Europe comprised of single real estate assets, a real estate operating company, and a midstream energy infrastructure company.

Special Projects

  • We advised a large state pension plan on the formation of a $100 million agriculture separate account with an emerging agricultural manager.
  • We advised a large state pension plan on a $100 million co-investment in a portfolio of real estate encompassing over 10 million square feet of retail space in 5 states.
  • We developed a number of educational primers on real assets for state pension boards considering changes to their real asset investment policies.
  • We advised a large state pension plan on over $500 million of investment in energy and infrastructure.
  • We advised a large state pension plan on a $300 million recapitalization of a vertically integrated agricultural operating business.