- January 1, 2015: Vol. 27, Number 1

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The emerging manager: Some case studies that illustrate what it takes to succeed

by Marc Weidner


Imagine that you had the opportunity to invest with one of the industry’s most astute and successful real estate investors (pick your favorite master of the universe). Instead of managing a multibillion-dollar vehicle investing across the globe, this star manager would invest only $200 million to $300 million and a significant percentage of this allocation could be yours. In addition, this manager might offer you an exclusivity agreement guaranteeing that he or she would effectively spend the entire time managing only one strategy — yours — while at the same time offering a significant fee break and strong control provisions. We believe this scenario would be the best of both worlds — unprecedented investment talent with highly focused and dedicated resources providing investor-favorable terms and governance.

We believe these opportunities exist with new and emerging managers.

Investing with new or emerging managers is not easy. If these

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