Neil Hasson, the former head of European real estate lending for Macquarie, has been hired by Investcorp to spearhead its European property investment programme.
Investcorp, which is headquartered in Bahrain, is a manager of alternative investment products. The company also has offices in Riyadh, Abu Dhabi, New York and London. Investcorp has an established US real estate business and is turning its attention to the European property sector.
Hasson, who left Macquarie in the latter part of 2015, joins Investcorp as a managing director. He will focus on core-plus investment in residential and commercial property across the UK, Germany, France, Italy and Spain. Hasson will be based in London and will report to Investcorp’s head of real estate investment, Jonathan Dracos, based in New York.
Hasson joined Macquarie’s Corporate and Asset Finance Group in 2013. During his time at the bank, he was responsible for its European real estate lending business. Prior to that, he spent seven years at Citi Property Investors as head of Europe and chief investment officer of CPI Capital Partners Europe, a €1.15 billion pan-European real estate fund. Hasson began his career at Goldman Sachs, followed by four years at Donaldson Lufkin & Jenrette where he was a managing director.
“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,” said Hasson. “There are currently some very attractive opportunities for property investment, particularly in Western Europe, and I am looking forward to spearheading this new initiative.”
Investcorp has a long track record of real estate investment in the US. The firm has closed transactions with a total value of more than $1.5 billion during the 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.
“Diversification into the European real estate market is a key element of Investcorp’s strategy,” said the firm’s executive chairman, Mohammed Al-Ardhi. “Investcorp has long-served its client base with global and diversified investment products, and entering European real estate is the next logical strategic step for the firm. Neil 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.”