Former MN Services head of real estate, Erwin Stouthamer, has launched a new venture, Composition Capital Partners, with two fund of funds.
The Amsterdam-based fund manager has
launched Composition Capital Europe Fund CV and Composition Capital Asia Fund CV, the first Asian real estate fund of funds available for institutional investors.
A first €75m to these funds has already been committed, said Composition. Both fund of funds will target superior returns and will invest in non-listed real estate investment vehicles, including investments in private funds, secondary transactions and joint ventures with local partners. Risks are managed and reduced by offering a portfolio of different managers, investment styles, sectors and countries.
Stouthamer left MN Services in January, along with portfolio manager Karin van der Sluijs. They were replaced by Richard van Ovost and Bas van den Ijssel.
And Fortis Investments has hired MN Services’ Bart Coenraads as chief investment officer for Dutch real estate. “Fortis Investments, the asset management arm of Fortis, has announced the recruitment in the Netherlands of Bart Coenraads as CIO for real estate,” the group said. He will report to global CIO William De Vijlder and be based in Amsterdam.
Coenraads’ move follows a series of changes at MN’s real estate team this year.
Fortis said Coenraads was responsible for Asian real estate at MN.
“Bart’s experience will allow us to make swift progress in the non-listed area while continuing to develop our core listed real estate product,” said De Vijlder.
“Real estate is a very important asset class for both retail and institutional investors,” De Vijlder said. “Bart will allow us to benefit from the fast-growing interest for this asset class in the various European markets.”