Mesirow Financial Hires Three; Adds Direct Investment Real Estate Capability
Firm Continues to Grow Alternative Investment Management Business
CHICAGO, January 9, 2008 — Mesirow Financial today announced that it has hired Alasdair R.J. Cripps, Guy Chiariello and Charles L. Kendrick to develop the firm's institutional real estate direct investment business. The team will invest in all major real estate asset types with an emphasis on industrial and multifamily investments.
Cripps, who joins Mesirow Financial as senior managing director and head of direct investments, will be responsible for developing and managing this new capability for institutional clients, which will operate independently from the firm's existing real estate fund of funds business. Most recently, Cripps served as partner and head of equity investments for a Chicago-based real estate investment management firm, where he was responsible for the asset management, acquisition, disposition, financing, joint venture development and investment strategy for approximately $3.5 billion in gross real estate assets.
Chiariello and Kendrick, both managing directors, also join Cripps from his previous firm. Chiariello, who has over 27 years of real estate experience, will oversee the asset management process for the team. Previously, he was responsible for all phases of asset management on over $900 million in real estate assets for institutional investors. Kendrick, who has over 16 years of real estate transaction experience, will focus on acquisitions and dispositions. While at his prior firm, Kendrick was responsible for the sourcing, underwriting and overseeing all aspects of due diligence for both acquisitions and dispositions.
"We believe this is a great time to acquire real estate for investment portfolios. This new capability further expands our alternative investment platform and complements our existing Investment Management and Real Estate capabilities for institutional clients," said James C. Tyree, chairman and chief executive officer of Mesirow Financial. "These individuals are an ideal fit for us with their successful track record and extensive experience in many major assets types, including: multifamily, industrial, office, retail and hospitality."
"We are thrilled with the opportunity to join Mesirow Financial," said Cripps. "The firm's breadth of alternative management solutions and relationships in the institutional marketplace make it a perfect platform for a direct real estate investment capability. We look forward to growing this business and introducing clients to the benefits that a direct equity real estate allocation can bring to their investment portfolio."
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent employee-owned firm with more than $31 billion in assets under management and 1,100 employees in locations across the country and in London. With expertise in Investment Management, Investment Services, Insurance Services, Investment Banking, Consulting and Real Estate, Mesirow Financial has consistently met the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit its Web site at www.mesirowfinancial.com. Mesirow Financial Institutional Real Estate, Direct is a division of Mesirow Financial Investment Management, Inc., an SEC registered investment advisor.
For more information, contact: Katie Schimmel, Mesirow Financial, 312.595.6684.
The Mesirow Financial name and logo are registered service marks of Mesirow Financial Holdings, Inc., © 2007, Mesirow Financial Holdings, Inc. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. It should not be assumed that any recommendations incorporated herein will be profitable or will equal past performance. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s).
Securities offered through Mesirow Financial, Inc. member NYSE, SIPC. Insurance services provided through Mesirow Insurance Services, Inc.
