Timbercreek Asset Management, Toronto Canada has taken over the Real Estate Securities Business of 4IP Management, Zurich Switzerland. With the representation of the Swiss office, Timbercreek is entering the European Real Estate Market. The combined REIT Team is gaining international strength and presence with locations in all major regions (North America, Europe, Asia/Pacific).
The merger of the teams was initiated by the two portfolio managers Corrado Russo (Timbercreek) and Claudia Reich Floyd (4IP Management), that have worked together for over 5 years in a similar setup prior to their times at Timbercreek and 4IP. Corrado and Claudia combined have over 25 years of investment experience and managed institutional capital at Citigroup from 2004 to 2009.
Timbercreek Asset Management is a specialized investment manager focused on real estate. The ownership of the company still resides with its original founders as well as the current management team. Timbercreek was founded in 1999, and now manages approximately $2 billion in assets through its eight private and public funds invested in direct real estate (primarily multi-residential), mortgage debt or publically traded securities (equity or debt).
For the European business the Luxembourg SICAV SIF Real Estate Securities Fund as well as a separate pension fund account in a German Spezialfonds for global real estate securities remain in place. The SICAV SIF focuses on "best in class" real estate which invests in companies that own the highest quality real estate in the most attractive markets around the world. In Canada, Timbercreek also manages separate accounts as well as a global real estate securities fund focused on high current income backed by quality real estate.