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HMC Spins Out $3.4B Real Estate Team To Bain Capital


HMC’s real estate team reportedly began exploring outside options ... Based in Boston and founded in 1984 by former U.S. presidential candidate and governor of Massachusetts Mitt Romney with partners from consulting firm Bain & Co., Bain Capital is ...


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var _sf_startpt=(new Date()).getTime() HMC Spins Out $3.4B Real Estate Team To Bain Capital | FINalternatives var oas_tag = {}; oas_tag.url = 'oascentral.investingmediasolutions.com'; //Define OAS URL oas_tag.sizes = function () { //size is required [width, height] oas_tag.definePos('Top', [728,90]); oas_tag.definePos('TopRight', [300,250]); oas_tag.definePos('BottomRight', [300,250]);} oas_tag.site_page = 'FINalternatives'; //Define OAS Site page oas_tag.allowSizeOverride = true; (function() { oas_tag.version ='1'; oas_tag.loadAd = oas_tag.loadAd || function(){}; var oas = document.createElement('script'), protocol = 'https:' == document.location.protocol?'https://':'http://', node = document.getElementsByTagName('script')[0]; oas.type = 'text/javascript'; oas.async = true; oas.src = protocol + oas_tag.url + '/om/' + oas_tag.version + '.js'; node.parentNode.insertBefore(oas, node); })(); var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-1136279-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' == document.location.protocol ? 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People Moves Regulation Halls of Justice Institutional Tech & Services Indices In Depth Contributors Lifestyle HMC Spins Out $3.4B Real Estate Team To Bain Capital Dec 15 2017 | 11:35pm ET The 20-person real estate team at Harvard University’s $37 billion endowment will reportedly spin out and become part of a new Bain Capital real estate investment group formed to bring the group aboard. The move will be effective February 1, 2018, according to a statement from Bain Capital on Friday, after which the group will be Bain employeesIt will continue to be led by Dan Cummings, currently head of real estate at Harvard Management CompanyThe team, which has invested more than $3.4 billion of equity in its direct real estate investment strategy since inception in 2010, will continue to manage HMC’s direct real estate investment portfolio from within Bain, the statement added, and HMC will continue to invest in the team’s future strategies. The addition of a dedicated real estate team will benefit Bain’s global distressed and special situations portfolio and the company’s consumer, hospitality and retail portfolio private equity portfolioHMC’s real estate team reportedly began exploring outside options a year ago, including launching an independent vehicle.  The move is the latest step by the world’s largest university endowment to restructure operations under new CEO Narv Narvekar after several years of underperformance relative to its peersHMC has long relied on direct investments by in-house teams such as the real estate group instead of the more common practice of relying on outside fund managers to build specific portfolio exposures. Based in Boston and founded in 1984 by former U.Spresidential candidate and governor of Massachusetts Mitt Romney with partners from consulting firm Bain & Co., Bain Capital is one of Wall Street’s largest remaining closely-held partnershipsThe company manages approximately $85 billion across private equity, venture capital, credit and public equity strategies.  E-mail This Print This Order Reprints Twitter LinkedIn Facebook. Related Links Bain: Asian PE Deals Hit Record High in 2014Bain Said To Target $1B For First Asia-Focused Credit FundHarvard's Stein: Use Mammoth Fed Balance Sheet For Financial StabilizationInvestors Said to Redeem Additional $1.4B From Brevan Howard Macro FundHarvard Endowment Again Trims Staff Amid Continued Restructuring Morgan Asset Management Debuts New Event-Driven Alternative Beta ETFNatixis Survey: Alternatives to 'Rule' in 2018Athyrium Capital Management Raises ~$2B With Neuberger For New Healthcare FundAdams Street Partners Launches Seoul OfficeGlobal Debt Registry Joins Wall Street Blockchain AllianceMurray Devine Names Emrich To Key Business Development RolePGIM's Jennison Taps McEvoy To Lead Global Distribution Indus Valley: Three Key Alternative Industry Trends To Watch In 2018 In DepthQ&A: Decathlon Capital On Revenue-Based Alternative LendingOct 30 2017 | 3:49pm ETThe explosion in private credit activity since the end of the financial crisis is...LifestyleCFA Institute To Add Computer Science To Exam CurriculumMay 24 2017 | 9:25pm ETStarting in 2019, financial industry executives sitting for the coveted Chartered...Guest ContributorSaxby: Not All EBITDA Is Created EqualNov 30 2017 | 8:02pm ETRecord levels of dry powder are driving competition among private equity firms to..   oas_tag.loadAd("TopRight");FINalternatives Trending NY Area Hedge Fund Manager Charged With Running $19M Ponzi Scheme more >>FINalternatives Most Popular NY Area Hedge Fund Manager Charged With Running $19M Ponzi Scheme Louis Dreyfus To Shutter $1.4B Commodity Manager Edesia Amid Revamp State Street Unveils New Quant-based Research Management Solution Eze Software Debuts 1/30 Hedge Fund Fee Module Q&A: Sancus Capital And The Disruption Of The CLO Market more >>more >>Liquidity… sponsored by NORTHERN TRUSTCash: An Asset In AdolescenceNorthern Trust: A Path To Transparency In Alternatives Investingmore >> From the current issue of Winning Big League with Scott Adams Scott Adams is the creator of Dilbert, a daily comic syndicated in more than 2,000 publications that takes a satirical look at work office cultureHe has just dropped his latest book, “Win Bigly: Persuasion in a World Where Facts Don’t Matter,” which highlights the strategies of persuasion Donald Trump used in his upset victory in the 2016 presidential election See more select articles from MODERN TRADER >> View past issues of MODERN TRADER>> Subscribe to the magazine >> Hard Assets Trending Crude: Down for Christmas Gold and silver overlooked amid Bitcoin hype Crude and bubblenomics Crude: Waiting for Christmas Bitcoin to replace gold? more >>Futures Trending NZD/USD stars in an otherwise lacklustre week Dollar higher ahead of Fed December rate hike More than 3,000 bitcoin futures trade on Cboe Dangers of clearing bitcoin and cryptocurrency derivatives in same clearing organization as other products Another week, a little less intrigue for the market more >> oas_tag.loadAd("BottomRight");   Subscribe Follow Magazine FUTURES Magazine Commodities ETFs Financials Forex Managed Funds Market Analysis News Options Regulation Technology Trading Strategies Education FUTURES Op-Ed Futures Favorites Alpha Pages Editorial FUTURES Magazine Slideshows & Lists Special Topics Alpha Hunters Bad Boys High-Frequency Trading Trader's Life Trading Strategies Trading Floor Market Data Hot Charts Interactive Charts LIVE S&P SQUAWK New! 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