Investcorp, a leading provider and manager of alternative investment products, has appointed Neil Hasson as the group's new managing director to spearhead its European real estate investment initiative.

Hasson joins as the firm targets the European property sector in line with its strategy to diversify its range of investment products, marking another significant step in driving the firm’s future growth.

An industry veteran, Hasson has nearly three decades of experience in real estate investment. He was previously a senior managing director at Macquarie Group, responsible for the firm’s European real estate lending business.

A University of Cape Town graduate in Electrical Engineering, Hasson holds an MBA with distinction from The Warton School, University of Pennsylvania.

Investcorp has a long-established US real estate business and has grown into being one of the biggest foreign buyers of US real estate.

Investcorp has closed transactions with a value totalling around $1.5 billion last year, including student housing in Florida, apartments in Atlanta, Chicago, Dallas, Denver and Minneapolis, and commercial property in the Northwest, Southwest and West Coast.

Building on the track record of its US team, Hasson will be responsible for developing Investcorp’s European real estate investment business with an initial focus on core-plus opportunities in residential and commercial properties across the United Kingdom, Germany, France, Italy and Spain.

He will be based in London and will report to Investcorp’s head of real estate investment, Jonathan Dracos, based in New York.

On the appointment, Mohammed Al Ardhi, the executive chairman at Investcorp, said diversification into the European real estate market was a key element of the company’s strategy.

"Investcorp has long-served its client base with global and diversified investment products - entering European real estate is the next logical strategic step for the firm," stated Al Ardhi.

"Hasson brings with him a wealth of knowledge and investment expertise that we believe will highly benefit our firm as we look to identify and invest in attractive real estate investment opportunities across Europe," he added.    

On his new role, Hasson said: “Investcorp’s strong international reputation as a leading alternative investment manager, along with the firm’s clear position as one of the largest foreign investors in US property, will be an excellent springboard as we seek to reach similar successes in the European markets."

"There are currently some very attractive opportunities for property investment, particularly in Western Europe, and I am looking forward to spearheading this new initiative at Investcorp," he added.-TradeArabia News Service