Ares Management added three European real estate financing experts as it expands its real estate debt presence in Europe, the alternatives manager said Wednesday in a news release.
Philip Moore was named partner and head of the real estate debt team. Mr. Moore is a former managing director for Carlyle Group's Credit Opportunities Fund where he headed up real estate investment activities across Europe and North America. Information on his replacement at Carlyle could not be immediately learned.
Alessandro Luca, a principal, comes from Goldman Sachs' real estate finance team, and Anisa Dudhia joins as a vice president and counsel with Ares's legal team. Before that, she focused on real estate finance at Clifford Chance LLP.
The team will focus on originating and managing commercial real estate loans, targeting institutional quality Western European real estate properties, including residential, industrial, office, hospitality, mixed-use and retail. The first completed loans was €113 million in acquisition financing for a Belgian office complex, the release said.
Ares expects to add more professionals in the near term. The new team members' experience originating and structuring commercial real estate financing transactions in Europe "provides a strong foundation for our continued expansion of the real estate group," said Ares partner William Benjamin, who heads the real estate group, in the release.
As of Sept. 30, Ares Management had $282 billion under management.
