Peter Cuthbert is the eighth and newest member of Fiera Properties, the real estate arm of Fiera Capital Corp. Cuthbert, a real estate veteran – having spent more than 25 years in the industry working for insurance companies and real estate investment trusts – will carry the title of senior vice president and partner. The group oversees about $550-million of real estate investment on behalf of institutional clients.
Fiera Properties was formed about a year back but acquired significant clout last April when it purchased RoyCom, a real estate manager that has been around for more than 20 years. That firm, currently managed two funds, RoyCom 6 and RoyCom 7 which were home to about $550-million in assets.
But with Cuthbert on board, Fiera Properties plans to move in a different direction and offer open ended real estate funds, an entity that will be able to raise additional capital on a when needed basis. Plans call for the fund to raise capital from sophisticated private investors (those who meet the accredited investor rule) and from institutional investors. The fund will be launched in the first quarter of 2013. Cuthbert will initially be focused on the establishment of that fund, the Fiera Properties CORE Fund and will serve as the fund manager.
Stuart Lazier is the chief executive of Fiera Properties while Robert Roy is the president. Fiera Capital, the parent of Fiera Properties manages about $55-million of assets.
Source: http://business.financialpost.com/2012/11/27/real-estate-veteran-peter-cuthbert-joins-fiera-properties/
No comments:
Post a Comment