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Valeo Fund launched for US and international CRE investors


Valeo Fund is being introduced to investors in the US, Europe and Latin America seeking to invest in the pending recovery in the US commercial real estate market.

The fund intends to invest in US commercial real estate assets that may be too large for individual investors and too small for institutional investors.

“What we found from our investor relationships is growing interest by international and domestic investors who are recognizing the value in US commercial real estate as it gets re-priced. These investors also have a greater amount of trust in the long term security and stability of the US,” says Fred Hamm, a Valeo Fund co-founder and a veteran money manager for international high net worth individuals.

Nearly USD1trn in commercial real estate loans will mature in the US between 2010 and 2013, and analysts at Deutsche Bank estimate that approximately USD370bn will not qualify for refinancing, creating attractive opportunities for investors.

“The fund is designed for the sophisticated investor seeking to participate in the coming opportunities in US commercial real estate, but who does not want to make direct investments or be part of a much larger institutional fund,” says Hamm. “We have limited the size of the fund to ensure we are focused on the longer term capital preservation, cash flow and capital appreciation goals of our investors.”

Joining Hamm as co-founders and managing directors to oversee the acquisition and management of the fund’s investment properties are three senior commercial real estate executives.

Mike Lewis, most recently a top officer at Crescent Real Estate Equities, the former real estate unit of Morgan Stanley, has over 28 years’ experience managing operations, enhancing property values and advising the strategic direction of more than 43 million square feet of commercial real estate holdings.

Steve Lipscomb, formerly national director of Archon Retail, the shopping centre platform of Goldman Sach’s Archon Group, guided the underwriting, acquisition, development, leasing, asset management, and disposition of retail properties across the US.

Jim Yoder, previously a managing director of Jones Lang LaSalle’s investor services group and a former principal of Trammell Crow, has been responsible for managing and leasing substantial real estate portfolios, totalling more than 30 million square feet. Yoder also performed asset management and acquisition services on behalf of institutional and private real estate investors.

Valeo Fund intends to raise USD150m in equity, which with moderate leverage will provide the fund buying power in excess of USD300m. The fund will target US real estate assets in demand driven/supply constrained markets in the USD15m to USD55m range, focusing on specific product types, such as office, medical office, retail and debt instruments secured by these classes of real estate.

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