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PERE: Thirty capital raisers who can make a difference

Thirty capital raisers who can make a difference

What does it mean to be a rainmaker in today’s private real estate market? That is a divisive question. Some – including Washington DC-based private equity firm Carlyle co-founder David Rubenstein – question the use of the phrase in today’s industry. “With the amount of due diligence, compliance and legal factors, it’s very unlikely that anyone is going to be able to persuade investors to go into a fund by themselves,” he said.Others disagree. Yes, they say, private capital markets are different to those of the 1990s and early 2000s, but the value of a talented individual still makes a difference.

David Hodes

Founder and co-managing partner, Hodes Weill & Associates

David Hodes is best-known as one-half of the Hodes (Doug) Weill duo jointly running a top placement and advisory business since their Credit Suisse days in 2000. Hodes’ individual career highlights include the formation of more than 100 private funds and other vehicles representing more than $75 billion of equity. Notable among these was the fundraising of the first international opportunity fund in the time before Blackstone – Morgan Stanley Real Estate Investing’s Morgan Stanley Real Estate Fund III

Doug Weill

Founder and co-managing partner, Hodes Weill & Associates

The other leader behind the repeat winner of PERE’s Capital Advisory Firm of the Year award, Doug Weill has raised $21 billion in capital in connection with private placements over his 30-year career, including for funds of long time clients Exeter Property Group, Cerberus Capital Management and PCCP. He also led the transaction team that advised Clarion Partners on an approximately $3 billion recapitalization and conversion of Gables into an open-ended fund. Such is his sway among the world’s private real estate investors he can garner more than 240 responses for his firm’s well anticipated Institutional Real Estate Allocations Monitor, an institutional sentiment survey published annually with Cornell University.

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