Earlier in the week, the asset manager and real estate investment of the Allianz Group with a valuation of $72.3 billion, Allianz Real Estate announced that, in a bid to grow its US business, it has appointed two highly sought after executives.
As per the announcement, Karen Horstmann and Michael Cale have been appointed by the firm and will be entrusted with the task to look after the US head of equity acquisitions and the US co-head of debt investments respectively. Horstmann, as well as Cale, will directly report to the CEO of Allianz Real Estate of America, Christopher Donner.
In his previous job role, Cale was the senior VP, head of capital markets at Voya Investment Management where he worked for almost two decades, In his newly appointed job role, Cale will oversee structuring and underwriting, investor management and overall portfolio allocation for the $13 billion real estate loan business along with co-head Mike Krawiec.
Starting September 2019, Karen Horstmann, the second executive to be appointed by Allianz Real Estate, will reportedly lead its equity acquisitions team from the New York office, the firm rates her quite highly as she brings along two decades of experience in global real estate
As per reports Cale and Horstmann are set to commence work in July and September respectively.
Speaking on the announcement, Donner said, “Allianz is focussed on growing its portfolio in North America and both Michael and Karen will be really crucial towards the accomplishment of this growth plan, Also, by further investing in the United States abundant 24/7 gateway cities, Our European investors aim to diversify their equity portfolios. Karen is an ideal candidate to lead and expand our equity acquisition team as she possesses vast strategic experience with fiduciary based European investors.”
Donner also revealed that the US investors of Allianz Real Estate have set them a task to deploy roughly $2 billion yearly in order to find new opportunities that fit their risk and return profiles.