China’s Vanke establishes global real estate investment management platform with a team of experienced real estate executives
The management team of Brightstone Capital Partners and Vanke has announced ’s formation as a global real estate investment management platform. Vanke, a founding partner in Brightstone, is one of the world’s largest real estate development and services companies. Brightstone is a key extension of Vanke’s investment strategy and marks the firm’s launch of a global real estate asset management initiative. Brightstone is based in New York and is led by its other founding partners, U.S. real estate executives Dennis Irvin, Douglas Lee and John Rivard.
Brightstone’s platform combines the focus and flexibility of a large-scale direct investor with the efficiency and resources of an asset manager. Capital commitments from the firm’s founding partners are used to pursue real estate investments across the return spectrum in high-quality assets in major markets globally. Utilizing Brightstone’s balance sheet to warehouse investments provides ready access to assets for third-party investors as well as speed and certainty to sellers and other counterparties. This model accommodates a wide range of property types, deal structures and hold periods and addresses investor requirements for transparency and alignment of interests.
Mr. Yu Liang, President of China Vanke Co., Ltd., commented: “The domestic real estate market in China has transitioned from the high growth “golden era” to a “silver era,” where Vanke is actively transforming itself as well. Globalization is one of our long-term growth strategies. The founding of the Brightstone investment management platform will help strengthen Vanke’s overseas investment position, assist the company in better leveraging its global resources, and enhance our profitability.”
“Vanke is the ideal partner with whom to launch an investment management platform,” stated Dennis Irvin, Managing Director of Brightstone Capital Partners. “The combination of Vanke’s real estate development expertise, Brightstone’s investment and management capabilities and our significant capital commitment will enable us to generate a wider range of strategic options for investors, while providing transparency and alignment of interests.”
“We will deploy capital strategically,” said Douglas Lee, Managing Director of Brightstone Capital Partners. “Our initial capital commitments give us the capacity and flexibility to source a wide range of opportunities, including direct property transactions, joint ventures and entity-level investments for both Brightstone and our investment partners.”
“Brightstone’s strategy is to invest in high quality real estate assets,” said John Rivard, Managing Director of Brightstone Capital Partners. “We will pursue a range of investment strategies, tailoring our risk-adjusted return targets to deal-specific factors as well as overall market conditions and investor requirements.”