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Veteran real estate bankers form advisory and investment business

David Hodes and Doug Weill, veteran real estate bankers from Credit Suisse, have formed a global advisory and principal investment business focused on the real estate private equity and

David Hodes and Doug Weill, veteran real estate bankers from Credit Suisse, have formed a global advisory and principal investment business focused on the real estate private equity and private funds industry.

The company, called Hodes Weill, will provide advice, strategy and solutions for a wide range of challenges impacting a rapidly changing industry.

Hodes and Weill, along with a third partner, co-founded Credit Suisse’s real estate private fund group, an agent and adviser which raised over USD40bn of capital from institutional and retail investors during the past ten years for a range of real estate fund managers.

New York-based Hodes Weill will offer advisory services to fund managers, limited partners, advisory committees, lenders and other interested parties within the real estate private equity and private funds community. In addition, the company will source and invest capital to assist in the recapitalization and restructuring of fund managers and fund portfolio investments.

‘The current dislocation in the real estate and credit markets is creating unprecedented challenges for the real estate private equity and private funds industry, requiring managers to consider a wide range of strategic alternatives in order to stabilize and expand their businesses,’ says Hodes. ‘We seek to work with managers, investors and lenders to navigate issues and consider opportunities, to provide them with strategic advice and investment capital, and to facilitate decision-making among key parties.’

‘We believe that the industry needs an unaffiliated firm to provide objective advice, strategy and services to real estate private fund managers, investors and lenders. Real estate funds are a vital component of institutions’ investment portfolios, presenting unique access to transactions with some of the highest quality managers in the industry,’ adds Weill. ‘However, excess liquidity in the real estate markets over the past several years, combined with a significant correction in property operating fundamentals and values, has created a range of challenges for the industry that we will seek to help our clients address.’

Hodes and Weill are joined initially by four professionals, and plan to further build out the team and operating platform over the coming months.

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