New CEO for CORESTATE Group (CH)

CORESTATE Group, a specialist private equity investor based in Zug/Switzerland, is pleased to announce the appointment of Phillip Burns as Chief Executive Officer.

Phillip, who was formerly a Financial Managing Director at Terra Firma Capital Partners will join in mid-February and primarily will be based at CORESTATE's HQ in Zug, but will split his time between each of CORESTATE's partner offices in London, Frankfurt and Luxembourg.

Phillip brings a wealth of real estate and transaction experience to CORESTATE. He joined Terra Firma in 2002 at the time of its spin out from Nomura, the Japanese investment bank. During his time at the firm he was involved with several transactions in multiple industry sectors, including waste and infrastructure, real estate, credit and, in particular, German residential real estate. Phillip also oversaw the management of Terra Firma's German office, which is based in Frankfurt.

Ralph Winter, Founder of CORESTATE, said: "Phillip brings a strong track record of executing specialized value-add transactions which will complement our own significant experience in this area. He joins the team at an exciting time in the Company's development and will oversee the next stage in its growth, building on its business model, ethos and strategy to deliver value to all of CORESTATE's investors and stakeholders."

Phillip Burns, Chief Executive Officer of CORESTATE, added: "I look forward to working with the CORESTATE team to build upon the Company's strong business platform and to seize further opportunities to create long-term value through an investment strategy focused on off-market opportunities which leverage the Company's unique asset management capabilities. I believe there will be substantial opportunities to extract value throughout the next investment cycle in both direct and indirect real estate transactions where we can apply our core skills of active asset management combined with our superior transaction execution.

"I am very excited to join CORESTATE at this point in the market as I believe the next few years will be an opportune time to invest selectively in situations where the Company will be well positioned to deliver significant value."

Source: FD

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