UK private equity group BC Partners has announced the hire of Altarea Cogedim's former CEO Stéphane Theuriau to lead the new real estate investment unit.
Stéphane Theuriau, who joins as managing partner in London, will be responsible for establishing a new team that will pursue a pan-European opportunistic investment strategy covering all real estate sectors, making direct and indirect private equity real estate investments as well as controlling and minority investments.
BC Partners Real Estate will be fully integrated within BC Partners, leveraging the firm's infrastructure and complementing the group's €17 bn private equity and private credit business.
Raymond Svider, managing partner at BC Partners, commented: 'The launch of BC Partners Real Estate is an important step in the evolution of the firm, and we are delighted to welcome Stéphane into the BC Partners family.'
He added: 'Stéphane is a seasoned real estate investor, with a 25-year successful track record across Europe. Stéphane is also an ideal cultural fit for us, and his experience will further enrich and complement our private equity DNA, and enable us to offer our LPs (limited partners ed.) another investment option in an attractive asset class.'
At Altarea Codegim Theuriau was able to grow the company's market capitalisation from €1 bn to €3 bn, with the firm trading at its highest European premium to NAV (net asset value). Prior to that he launched Morgan Stanley’s real estate investing business in France in 1998, before becoming its head of Europe from 2003 until 2006.
