Constitution Capital Partners said Feb. 12 that it launched a real estate unit. Constitution Capital Real Estate Partners is comprised of professionals previously employed by Lone Star Funds and its affiliates. Hugh J. Ward III, most recently senior managing director and co-head of real estate investments at Lone Star North America, is leading the unit.
BOSTON, February 12, 2019 – Constitution Capital Partners, a leading private, multi-asset alternative investment firm, today announced the formation of Constitution Capital Real Estate Partners, comprised of professionals previously employed by Lone Star Funds and its affiliates. With offices in New York and Chicago, the group will be led by Hugh J. Ward III, an industry veteran and most recently Senior Managing Director and Co-Head of Real Estate Investments at Lone Star North America.
The Real Estate team, instrumental in helping Lone Star acquire more than $20 billion of real estate loans and properties in North America during the latest cycle, will initially consist of six individuals with over 150 years of combined commercial real estate investment experience. The team’s value-add strategy focuses on identifying undermanaged and undercapitalized assets and seeks to create value by improving management, performing incremental leasing and increasing rents via strategic capital improvements. Primary target asset classes include Class B apartments/workforce housing, Class B/A- office buildings, e-commerce oriented industrial properties and full and select service hotels located across the United States.
“As a firm that is constantly seeking ways to improve and enhance performance for both our portfolio and our investors, we believe the addition of the Real Estate team will be another method to create further value,” said Daniel M. Cahill, a Managing Partner at Constitution Capital Partners. “We have closely followed the real estate sector for a long period of time and feel that we now have the right investment team to enter this attractive and evolving marketplace. Having known and worked closely with Hugh dating back more than 30 years to our time as members of the corporate audit staff at General Electric Company, I have had the pleasure of following his career closely and trust that his experience, track record and most importantly, leadership, will transition well into our firm.”
“We believe the addition of the Real Estate team builds upon our existing platform and complements the investment opportunities in our business units,” said John J. Guinee, a Managing Partner at Constitution Capital Partners. “Importantly, we are confident that this talented team of investment professionals, all of whom bring significant expertise and quality of character, share our commitment to our value-add and analytical investment approach. We are thrilled to welcome them to Constitution Capital and look forward to their contributions.”
“Joining Constitution Capital is an ideal fit for our team and we are very pleased to be a part of such a unique opportunity,” said Hugh J. Ward III, Senior Managing Director and Head of Real Estate at Constitution Capital Partners. “The firm has established itself as a leading investor across multiple asset classes in North America, and we could not be more excited to build a real estate business within Constitution Capital and leverage their outstanding platform. Furthermore, it is a personal bonus to have the opportunity to once again work alongside Dan Cahill who I have known for decades and for whom I have a tremendous amount of respect. On behalf of the entire Real Estate team, I sincerely thank Dan, John and the entire Constitution Capital team for showing a tremendous amount of trust and confidence in us.”
About Constitution Capital
Constitution Capital, with offices in Boston, New York, and Chicago, is a leading alternative asset manager focused on private equity, private credit, and real estate. The firm is a disciplined, value oriented investor with a demonstrated track record of consistently generating strong risk-adjusted returns. The firm is led by an experienced, cohesive team of investment professionals with significant experience investing in partnerships, direct equity, opportunistic credit investments, and real estate. For more information about Constitution Capital, please visit www.concp.com.