Canadian property giant Brookfield Asset Management has recruited GAM’s debt director Martin Farinola to its European property debt business.
According to Farinola’s Linkedin profile, he joins the firm this month from Swiss group GAM, where he headed a five-person real estate debt team jointly with Andrew Gordon.
The appointment comes shortly after Brookfield’s launch earlier this month of its first-ever Europe-focused property fund.
Brookfield Asset Management has over $515 bn (€455 bn) of AUM across real estate, infrastructure, renewable power, private equity and credit. Within that it manages $201 bn (€178 bn) of real estate.
It is second only to Blackstone in the amount of equity it has raised for higher risk/return real estate strategies in recent years. Last year, it closed on $15 bn (€13 bn) for a global real estate opportunity fund, a record for the company.
The company manages €30 bn of real estate in Europe, three quarters of which is office property, with the remainder being hotels and residential.
Last year, it bought and sold around €800 mln of assets in the region.
The company’s real estate business is headed by Brian Kingston, who joined in 2001. Key acquisitions during his tenure include investments in Forest City Realty Trust, General Growth Properties and Canary Wharf in the UK.
Last year, the firm acquired a majority interest in Oaktree, also a significant investor in real estate in Europe.
