H.I.G. Capital, a leading global private equity investment firm with more than €13bn of capital under management, has appointed AXA Real Estate’s Riccardo Dallolio as co-head of European real estate alongside Ahmed Hamdani.
Dallolio, joins as a managing director, was head of alternatives and special situations at AXA Real Estate, where he also held the positions of head of transactions in Europe and head of asset management and transactions in France.
Prior to AXA, Riccardo was a partner at Grove International Partners, and worked in the J.P. Morgan Real Estate Group in London.
Sami Mnaymneh, co-founder and co-CEO of H.I.G., said in a statement: “I am delighted to welcome Riccardo to the firm. He is a very experienced and successful real estate investor who significantly augments the expertise and capabilities of our team. I am confident he will play an instrumental role in H.I.G. Capital’s development and growth in the real estate asset class”.
Last November, H.I.G. Capital recruited Evans Randall’s Simon Laker as principal and head of European asset management of H.I.G.’s €13bn real estate portfolio.
H.I.G. Capital’s real estate platform targets opportunistic real estate investments, with a focus on adding value, improving performance and achieving attractive risk-adjusted returns.
With offices in London, Madrid, and Milan, the H.I.G. European real estate team is active across a wide spectrum of real estate asset classes. It has completed 13 transactions across multiple jurisdictions in Europe in the last two years including the UK, Spain, Italy, the Netherlands, and Finland.
In September 2014, Bayside Capital, an affiliate of H.I.G. Capital, acquired six office buildings and one shopping centre, together over 52.000 sqm, from IVG Institutional Funds for approximately €70m.
Two months prior, in July of the last year, H.I.G. Capital was part of a consortium which acquired Volksbank’s first corporate real estate non-performing loan portfolio, with an unpaid balance of €495m, alongside Deutsche Bank, AnaCap Financial Partners and APS Holding.
In August 2013, H.I.G. Capital won the race to buy a 51% stake in a package of 939 homes known as Project Bull from SAREB, Spain’s bad bank, beating rival bids from Lone Star, Apollo Global Management, Colony Capital and a joint offer by Centerbridge Capital Partners and Cerberus Capital Management.
The NPL comprised of 3,566 loans and secured by a mix of primarily residential, commercial real estate and development land, was the first of its kind on the Romanian market.
H.I.G.’s real estate platform targets opportunistic real estate investments – with typical investment size ranges from €10m to €100m across all parts of the capital structure – focusing on adding value and improving performance to achieve risk-adjusted returns.