A Connecticut-based hedge fund manager and a New York real estate company are teaming up to develop investment products focused on publicly traded real estate securities. The partners are Hartford-based Alpha Equity Management LLC, which manages two investment funds, and The Praedium Group LLC, a New York real estate company that acquires distressed real estate assets throughout North America.
The joint venture combines Alpha Equity’s securities investment experience and established performance record with Praedium’s experience as a seasoned real estate investor and fiduciary.
Alpha Equity manages two investment funds, each with an investment capacity in excess of $1 billion, according to company estimates. With the joint venture, Alpha Equity will add Praedium’s executives to its investment committee. The joint venture will stick to publicly traded securities, such as REIT shares, rather than debt securities as it develops investment products.
“Alpha Equity has an exceptional team of experienced professionals with a distinctive investment process,” says Russell Appel, president of Praedium. “While Praedium’s core strategy continues to be identifying opportunistic, value-added real estate deals, we are very excited to team with Alpha Equity and look forward to working closely with them on various real estate securities products.”
Kevin Means, Alpha Equity’s founder, managing partner and real estate portfolio manager, says he is excited to join forces with Praedium. “Their private market expertise complements our public market experience,” he says. “Their well-established reputation in the real estate community complements our growing presence in the hedge fund community.”