Page 11 - HC2018 HarbertAnnualReprt-fnl-nocrops
P. 11

                 European Real Estate

          The European Real Estate strategy’s Managing Director, Scott O’Donnell, joined HMC after working
          in conjunction with the firm in 1998 on a transaction privatizing all the assets of Sweden’s phone
          company. “Getting to know Raymond during that experience,” O’Donnell remembers, “convinced me that
          we made a very good strategic fit. We both wanted to build something. And we both believed that our number
          one focus should be making money for clients. When you do that, everything else takes care of itself.”

                        o date, HMC and its affiliates have successfully
                        completed over €3.4 billion of transactions in the
                        United Kingdom, France, Germany, Spain, Ireland,
                        Poland and Scandinavia. Philosophically, our
                        approach is defensive in nature. “We don’t count
         Ton market trends for success. We’re exceedingly
          intentional about when and how we invest, and we analyze every
          potential downside before we ever make an investment.”

          Our investment team targets opportunities in attractive locations
          offering high-quality cash flows and structural integrity. “We also
          strongly believe that biggest is not necessarily best, which is why
          we typically pursue investments between €20 million and €100
          million — properties where we can add value and generate strong
          risk-adjusted returns by injecting capital as well as development
          and/or operational expertise.

          “We’re strong believers in grassroots fundamentals. We preach
          it and we live it: If you can’t get your head around a deal simply
          and easily, walk away from it.” And while O’Donnell takes pride
          in his team’s level of talent, he’s quicker to point out the discipline
          that’s applied to everything they do, “because,” he says, “sometimes
          the right answer is not to invest.”

          50                                                        €1.0 Billion

          Investments in Sixteen Years
                                                                    Equity Invested

          Net Internal Rate of Return
          Across Four Funds, including Co-Investment Funds

   6   7   8   9   10   11   12   13   14   15   16