Global real estate investment management company Hines officially launched Hines Private Wealth Solutions this week. The move aims to leverage the company’s existing products for individual investors, develop its relationships across private wealth distribution pipelines and expand its presence in Europe and Asia.
Over the past two decades, Hines has worked with individual investors to raise more than $10.7 billion in investment vehicles through private wealth channels, including non-traded REITs, private placements and tax-deferred exchanges. Its current offerings in this space include Hines Global Income Trust, a non-traded REIT focused on core and core-added properties around the world. Past offerings include HGR Liquidating Trust, an unlisted diversified global real estate investment trust, and MSC Income Fund, an investment fund that provides debt and equity financing to U.S. private middle market companies. Two years ago, Hines also targeted family offices and wealth managers to raise capital for his U.S. Property Recovery Fund.
“While Hines has had great success to date in attracting individual investors to participate in our strategies, we see significant untapped potential,” David Steinbach, the firm’s global chief investment officer, said in a statement. “We see significant untapped potential.” We believe investors are increasingly looking to diversify their investment portfolios, and Hines is well-positioned to help them achieve the optimal portfolio and meet a variety of financial needs through the power of real estate investing.”
Hines hired Paul Ferraro to lead its private wealth strategy two months ago. Ferraro previously served as global head of private wealth at global asset management firm The Carlyle Group. He also served as head of platform distribution for Morgan Stanley’s commercial banking division.
With the launch of the Private Wealth Solutions platform, Hines’ broker/dealer affiliate has changed its name to Hines Private Wealth Solutions LLC.
