QuadReal Invests US$1 Billion with Ranger Global as Foundation for New Strategic Partnership
QuadReal Property Group (“QuadReal”) announces it has acquired a 46% ownership interest in Ranger Global Real Estate Advisors, LLC (“Ranger Global”), a leading investment advisory firm focused exclusively on the management of global listed real estate portfolios. This milestone advances a significant relationship between the two companies that began with the outperformance QuadReal has realized from investing $1 billion of assets with the experienced Ranger Global team, beginning in early 2020. As of September 30th, 2021, Ranger Global’s Global Real Estate composite ranked in the 1st percentile of the eVestment Global REIT peer universe for the trailing 10-year period1.
With an investment process founded on deep fundamental research and developed over the multiple market cycles of the last 30 years, Ranger Global is differentiated from its peers through opportunistic investment across the spectrum of higher-growth, high-quality real estate companies.
Dennis Lopez, QuadReal CEO, said, “Ranger Global and QuadReal partnered to invest in the opportunities that were presented by the market volatility created by the pandemic. The Ranger Global team is nimble and astute in the investments they make on behalf of QuadReal. We value the success we achieved and sought to deepen our relationship by taking an equity position in the company.”
Richard Saltzman, Senior Advisor to and Ranger Global Board Chair, adds: “I’ve known and admired the current senior leadership of Ranger Global and QuadReal for many years and am delighted to see this collaboration take place. All parties share a mutual commitment to unlock value by combining the best of public and private real estate market expertise. In fact, it is very gratifying to already witness the synergistic results being generated by this partnership.”
“Public real estate equities are an important component of QuadReal’s global portfolio. Working with the Ranger Global team enables us to invest thoughtfully in listed companies in global markets across all property sectors and business cycles,” says Jonathan Dubois-Phillips, QuadReal President of International Real Estate.
“Ranger Global will continue to be majority-owned by our employees and Senior Advisor/Chair. The power of employee equity ownership is that we have attracted and retained an exceptionally seasoned and talented team of investment professionals,” says Scott Tuck, Ranger Global co-founder and CEO. Adds Andrew Duffy, Ranger Global co-founder and CIO, CFA: “Over my 30 years of investing in listed real estate, I have learned to appreciate the research synergies and opportunities afforded by adopting a holistic investment perspective across both public and private markets. Our close working relationship with QuadReal over the last 18 months, now formalized through this strategic partnership, has further broadened and deepened our capabilities, which we believe will benefit all of our clients.”
Hodes Weill Securities, LLC acted as exclusive advisor to QuadReal for the Ranger Global transaction.
About QuadReal Property Group
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management total CAD$61.2 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating companies in which it holds an ownership interest.
QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.
About Ranger Global
Ranger Global Real Estate Advisors, LLC was co-founded by Andrew J. Duffy, CFA and F. Scott Tuck, West Point classmates and U.S. Army Rangers. As Chief Investment and Chief Executive Officers respectively, each has nearly 30 years of institutional asset management experience. The Ranger Global team of real estate investment professionals has domain expertise established over multiple market cycles, with the benefit of three decades of expertise investing in listed global real estate markets. The hallmark of its investment strategy is concentrated portfolios with significant overweight to higher-growth, high quality real estate companies, including Ranger’s pioneering investment across alternative and specialty property types.
Ranger Global is an SEC registered investment adviser that maintains a principal place of business in the State of New York. Registration with the SEC does not imply their approval or endorsement in any way. For further information about Ranger Global’s business operations, please consult the Firm’s Form ADV disclosure documents, the most recent versions of which are available on the United States Securities & Exchange Commission’s (“SEC’s”) Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov.
Nothing presented herein is intended to constitute investment advice and no investment decision should be made based on any information provided herein. Nothing presented herein should be construed as a recommendation to purchase or sell a particular type of security or follow any investment technique or strategy. No guarantee of investment performance is being provided and no inference to the contrary should be made. An offer to purchase shares in any mutual fund advised or subadvised by Ranger Global is only made by prospectus of the applicable fund which can be found on the fund’s distributor’s website.
About Hodes Weill
Hodes Weill & Associates (“Hodes Weill”) is a leading, global advisory firm focused on the real estate and real assets investment and funds management industry. The firm has offices in New York, Denver, Hong Kong and London. Founded in 2009, Hodes Weill provides institutional capital raising for funds, transactions, co-investments and separate accounts; M&A, strategic and restructuring advisory services; and fairness and valuation analyses. Clients include investment and fund managers, institutional investors, lenders, property owners and other participants in the institutional real estate and real assets market. All U.S. regulated capital market and securities advisory services are provided by Hodes Weill Securities, LLC, a registered broker-dealer with the SEC, and a member of FINRA and SIPC, and internationally, by non-U.S. Hodes Weill affiliates.
Media Contact: Edelman
1 About eVestment’s Global REIT Universe
eVestment, a wholly owned subsidiary of Nasdaq, Inc., provides institutional investment data, analytics and market intelligence covering public and private markets. eVestment is not associated with Ranger Global Real Estate Advisors or QuadReal Property Group and provides institutional investors and consultants with manager due diligence, selection and monitoring capabilities. As of September 30, 2021, eVestment’s Global REIT universe consists of 89 funds. Within the Global REIT universe, individual classifications of 3-, 5-, 10-year and Since Inception periods are generated monthly. The rankings compiled on September 30, 2021 are based entirely on objective, quantitative criteria and proprietary methodology is the foundation of eVestment’s platform and are not designed to produce biased or unfair results.
Historical returns for Ranger Global’s Global Real Estate Composite are set forth below:
|AS OF 9/30/21||1 Year||3 Year||5 Year||10 Year||Since Inception|
|Global Real Estate Composite (Gross Returns)||34.77%||11.87%||11.81%||13.45%||12.36%|
|Global Real Estate Composite (Net Returns)||33.70%||10.98%||10.92%||12.55%||11.47%|
|FTSE EPRA/Nareit Developed Real Estate Index||30.81%||7.16%||5.51%||9.26%||8.70%|
|Rank in eVestment Global REIT Universe||8||21||2||1||2|
Ranger Global’s Global Real Estate Composite: The Composite focuses on investing in a diversified portfolio of publicly-traded, global real estate securities, such as real estate investment trusts (“REITs”) and real estate operating companies. The Composite includes all discretionary, fee paying portfolios invested in Ranger Global’s Global Real Estate investment strategy. The strategy aims to maximize total returns from long term capital growth and income. Performance results are calculated on a total return basis and include dividends and interest and unrealized capital gains and losses. Gross returns reflect the deduction of trade-related costs including applicable withholding taxes. The Composite returns consist of size-weighted portfolio returns using beginning of period values to weight portfolio returns. All of the Composite’s valuations and returns are computed and stated in U.S. dollars. Past performance does not guarantee future results. Many factors affect performance including changes in market conditions and interest rates, and in response to other economic, political, or financial developments. An investor should consider the investment risk objective, charges and any expenses carefully before investing in the strategy. This data is for general information only and is not intended to provide specific investment advice or recommendations for any purchase or sale of any security. Certain information contained herein is based on outside sources believed to be reliable, but their accuracy is not guaranteed.
Returns are annualized for periods greater than one year. Returns are presented gross and net of management fees and include the reinvestment of all income. Net of fee performance was calculated using the highest institutional segregated portfolio management fee which is 0.80% per annum.
As of September 30, 2021, the Composite consisted of four accounts totaling approximately $1.8 billion in assets.
2 Mr. Duffy and the Ranger Global investment team previously comprised in its entirety Ranger’s predecessor firm, Ascent Investment Advisors (“Ascent”). Mr. Duffy and his team are solely responsible for the investment process and combined Ascent / Ranger Global performance history since Ascent’s track record inception in November 2009.
Source: Ultimus Fund Solutions, LLC; Bloomberg.com; eVestment. You cannot invest directly in an index. The Index is the FTSE EPRA Nareit Developed Index, which is comprised of publicly‐traded REIT securities in developed countries worldwide which have met certain financial criteria for inclusion in the Index. Each company must derive the bulk of its earnings through the ownership, management or development of income‐producing commercial real estate.