Hodes Weill & Associates to Leverage Track Record, Network
in Real Estate Private Funds Industry
David Hodes and Doug Weill, veteran real estate bankers from Credit Suisse, today announced the formation of Hodes Weill & Associates (“Hodes Weill”), a new global advisory and principal investment business focused on the real estate private equity and private funds industry. Leveraging the principals’ global network of investor and fund manager relationships, and knowledge of the real estate private equity and private funds market, Hodes Weill will provide advice, strategy and solutions for a wide range of challenges impacting a rapidly changing industry.
Messrs. Hodes and Weill, along with a third partner, co-founded Credit Suisse’s Real EstatePrivate Fund Group, a market leading agent and advisor, which raised over $40 billion of capital from institutional and retail investors during the past 10 years for a range of real estate fund managers. The business has received numerous industry awards for its market leading franchise.
Hodes Weill will offer advisory services to fund managers, limited partners, advisory committees, lenders and other interested parties within the real estate private equity and private funds community. In addition, the Company will source and invest capital to assist in the recapitalization and restructuring of fund managers and fund portfolio investments.
“The current dislocation in the real estate and credit markets is creating unprecedented challenges for the real estate private equity and private funds industry, requiring managers to consider a wide range of strategic alternatives in order to stabilize and expand their businesses,” said Mr. Hodes. “We seek to work with managers, investors and lenders to navigate issues and consider opportunities, to provide them with strategic advice and investment capital, and to
facilitate decision-making among key parties.”
“We believe that the industry needs an unaffiliated firm to provide objective advice, strategy and services to real estate private fund managers, investors and lenders. Real estate funds are a vital component of institutions’ investment portfolios, presenting unique access to transactions with some of the highest quality managers in the industry,” said Mr. Weill. “However, excess liquidity in the real estate markets over the past several years, combined with a signifi cant correction in property operating fundamentals and values, has created a range of challenges for the industry that we will seek to help our clients address.”
Messrs. Hodes and Weill are joined initially by four professionals, and plan to further build out the team and operating platform over the coming months.
About Hodes Weill & Associates
Hodes Weill & Associates is a New York-based independent advisory and principal investment business focused on the real estate private equity and private funds industry on a global basis. Hodes Weill offers independent advisory services to fund managers, limited partners, advisory committees, lenders and other interested parties. In addition, the firm sources and invests capital to assist in the recapitalization and restructuring of fund managers and fund portfolio investments.
Messrs. Hodes and Weill, along with Bill Thompson, co-founded Credit Suisse’s Real Estate Private Fund Group (“REPFG”) in 2000 at Donaldson, Lufkin & Jenrette (DLJ). From 2000 through February 2009, Messrs. Hodes, Weill and Thompson led the business, with the responsibility for the strategic oversight and management of REPFG, with significant contributions from other senior members of the team who remain at Credit Suisse.
Since inception, REPFG raised over $40 billion of capital from institutional and retail investors, through the formation of 67 private real estate funds. As of June 30, 2009, the REPFG team was comprised of 33 people located in 5 offices around the world. The business maintains a dominant market share of the “agented” fund raising market, averaging approximately 25% between 2006 and 2008. REPFG has received numerous recognitions for its market-leading business, including Global Fund Raising Agent of the Year by Private Equity Real Estate in 2007 and 2008.
Jeremy Fielding / Tripp Kyle
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