Money manager Fiera Capital has landed a specialist to grow the Montreal-based independent asset firm’s platform in Canada and the United Kingdom, naming Wenzel Hoberg its global head of real estate.
The company said in a statement that it expects Hoberg to support capital-raising efforts and partnership development.
"His global insight and deep expertise in real estate and in successfully navigating complex economic cycles will make him a valuable asset in the firm's strategy for growth as we continue to aim for attractive return generation and optimization for our investors," said President and Chief Executive Officer of Fiera Private Markets John Valentini in the statement.
Hoberg, who will be based in Toronto, previously was Chairman of the Advisory Board for
Forge & Foster Investment Management, according to his profile on LinkedIn. Before that president at Barnhart Capital, a boutique real estate private equity firm headquartered in Toronto. Hoberg also was the CEO of TRIUVA, a European investment management company based in Frankfurt, Germany. He also spent nearly a decade at CPP Investments, where he oversaw real estate investments throughout the globe, according to the statement.
He has completed degrees in business administration in Berlin and real estate and land economics in Wisconsin and has an MBA from the University of Regensburg.
"I am honoured to join the team as the new global head," said Hoberg. "I believe the firm has tremendous opportunities to grow the ecosystem and to capitalize on successes to date – rooted in its innovative approach and diverse portfolio. I look forward to working with our global teams to provide high-quality strategies within the real estate asset class to a growing number of investors."
Fiera Real Estate manages more than $7.8 billion in commercial real estate and has 335 properties under management, according to its website. It has four offices across North America and Europe and employs a team of more than 80.
Fiera Real Estate's interests represent only about 5% of Fiera Capital's $158.3 billion in assets under management. Fiera Capital is a publicly traded company on the Toronto Stock Exchange and has offices in Montreal, Toronto, Calgary, New York, Boston, Dayton, London, Frankfurt, Hong Kong and Singapore.
The investment firm has braced investors for some bumps in 2023.
"As 2023 unfolds, economic conditions are set to deteriorate as higher borrowing costs and pricing pressures take their toll on households and businesses — though one right spot could be on the trade front given that commodity prices remain elevated," Fiera Capital said in its recently published Institutional Markets Investment Outlook.