CIM Group has provided financial support to establish Round Hill Capital Ventures, a newly formed investment company.
This new entity has acquired the management contracts for assets formerly managed by Round Hill Capital.
Michael Bickford will head up Round Hill Capital Ventures, leading experienced teams based in six offices across Europe and the United States.
As part of the partnership, CIM Group is also providing growth capital to Round Hill Capital Ventures for its continued expansion.
Round Hill Capital Ventures will manage a $2.1 billion portfolio of high-quality investment and development real estate located predominantly in Europe and concentrated in the living sector, representing 13,450 residential units in 10 countries including the U.K., Netherlands, Germany, Spain, Portugal, Ireland, Denmark, Finland, France and the U.S.
The new platform will build upon the longstanding strength of former Round Hill Capital’s vertically integrated real estate management business, which will now benefit from CIM Group’s scale and breadth of experience across multiple real estate and infrastructure asset classes as well as its access to growth capital and complementary operational expertise.
CIM Group currently owns and operates $28.6 billion in assets across 135 communities across North America, Latin America and the U.K.
Since the formation of Round Hill Capital in 2002, funds managed by Bickford and the Round Hill Capital management team have transacted in excess of $13 billion of real estate and invested in more than 140,000 residential units and student housing beds.
“CIM Group’s investment in Round Hill Capital Ventures is part of our firm’s longstanding practice of expanding our platform by partnering with best-in-class managers in their home markets, including by providing financial and operational support. We believe Round Hill Capital Ventures will be a top-tier living sector fund manager across the EU and the U.K., and we look forward to being a part of its growth going forward as an investor and supportive partner,” said Richard Ressler, Co-Founder and Principal of CIM Group.
“CIM Group is a strong investment partner with a 30-year track record of successfully managing real estate and infrastructure, along with a substantial credit business. We are excited about this new chapter to grow our business. We have significant ambitions to continue expanding across Europe, and CIM Group’s expertise and resources will be invaluable in helping us achieve those goals,” said Mr. Bickford. “We believe this strategic partnership with CIM Group positions us advantageously at a compelling point in the market cycle across Europe, which should allow us to deliver superior performance for all of our investment partners.”
