US pension plans, through GCM Grosvenor, have committed $50m (€46.8m) to seed the first institutional fund of private real estate investor OlivePoint.
OlivePoint said the investment from the unnamed US pensions plans is being committed through GCM Grosvenor’s real estate platform, which provides “catalytic seed capital to emerging real estate investors to help launch and scale their investment businesses”.
OlivePoint, founded in 2022 by Adrian Bejarano, John Bruno and Ricardo Goldberg, takes an opportunistic approach, investing in select US markets across various sectors and capital structures.
The newly created institutional fund builds on OlivePoint’s track record of managing capital for US family offices.
OlivePoint also has a growing footprint in Latin America and has developed a platform to provide international investors access to US real estate investments.
Peter Braffman, managing director at GCM Grosvenor, said: “We are excited to strategically partner with the OlivePoint team to invest in opportunistic real estate assets across the US.
“Over the course of their careers, Adrian, John and Ricardo have demonstrated the ability to thoughtfully manage risk and protect their investors’ capital while identifying unique opportunities. As such, we believe OlivePoint can potentially create meaningful alpha for our investors in today’s challenging market environment.”
In a joint statement, Bejarano, Bruno and Goldberg, said: “We are pleased to welcome GCM Grosvenor as a strategic investor, and we are grateful for their support and the confidence they are placing in us to invest on behalf of their institutional clients.
“This investment is a powerful endorsement of our investment strategy and our proven, experienced team. We are looking forward to a long and successful partnership with the GCM Grosvenor team.”
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