The importance of building client relationships
Angelo, Gordon & Co, the USD28 billion alternative investment firm focused on credit and real estate investing, has made key hires to its organisation to support its ongoing business growth efforts. As Gareth Henry, Global Head of Investor Relations, tells AlphaQ: “Client service is critical to the success of a global real estate investment manager. We believe investors are best served when skilled investment management is supported and enhanced by excellent client service.”
The two key hires, Terri Herubin and Matthew Brody, will focus on client service and real estate marketing, respectively. Terri Herubin is former Managing Director and Portfolio Manager at Barings Real Estate. Her role will be to oversee client service for the firm’s real estate portfolios and to serve as the real estate product specialist for the firm. Matthew Brody is former Principal at Walton Street Capita and will be responsible for new business development for the firm’s real estate activities. Both are based in New York.
In talking about the importance Angelo, Gordon places on client relationship, at a time when digital platforms are changing the way that fund managers interact with their end clients, Henry emphasises that understanding clients’ needs “is vital to our success as a business. We are committed to continuously improving not only the breadth and flexibility of investment options and advice we bring to our clients, but also the quality of service we provide. Terri and Matt are a big part of how we continue to evolve our Real Estate marketing and client services function in line with these commitments.”
Herubin is a respected leader in the real estate pension fund community with more than two decades of real estate experience serving in both client-facing and portfolio management roles. While at Barings Real Estate she led the firm’s open-end, core real estate fund. Previously, she served as Principal and Portfolio Manager for The Townsend Group, where she led the underwriting of US commingled fund mandates. Prior to Townsend, Herubin was a Co-Portfolio Manager for the New York State Teachers' Retirement System's equity real estate portfolio.
“Terri is a respected leader in the real estate pension fund community with more than two decades of real estate experience serving in both client-facing and portfolio management roles,” says Henry. “Her unique skillset spanning real estate product development, fund management and client service will be especially valuable in meeting the changing and increasingly complex reporting and communication needs of clients. She will provide a knowledgeable and experienced interface between our portfolio management team and our clients.
“Terri will work closely with Matt and the broader business development team to serve the interests of investors looking for real estate investment opportunities. The quality of client communications and access to information is vital to a successful client relationship so the partnership between client services and marketing is a vitally important one.”
Brody’s deep product knowledge and relationships will help to deepen the quality of Angelo, Gordon’s marketing efforts. He spent 11 years at Walton Street Capital, where he was responsible for business development and client services activities, as well as portfolio management for a variety of real estate products. Earlier in his career he served as an Assurance and Advisory Business Services Associate in the Real Estate Group at Ernst & Young.
Both Herubin and Brody will join Aliana Spungen who has been successful in building the firm’s real estate marketing and client services capability since 1999.
“Terri’s unique skillset, which spans real estate product development, fund management and client service, coupled with Matt’s experience with the real estate investment community, will bolster our capabilities as we further strengthen relationships and expand the solutions we provide for our clients,” commented Spungen at the time of the announcement.
Herubin will fill a newly created position of product specialist for real estate, as well as head of client service for real estate. “The role and the experience she brings to it will continue to improve the quality of service we provide to our clients, and provide enhanced support for our portfolio management and marketing teams,” confirms Henry.
At a time when institutions increasingly look to do co-investing with private equity and real estate managers, building closer alignments will be a key facet of the ongoing fund raising process. Those who understand what LPs want from a product perspective, what their risk appetite is etc., are going to be well placed.
“Angelo, Gordon’s success over the last 28 years has been built on the depth of its talent across every part of the business and the level of teamwork that exists across the firm. Bringing on Terri and Matt expands our reach and deepens our existing teams as our real estate platform continues to grow. They deepen the bench of talent supporting our real estate clients,” says Henry. Asked about the co-investing trend, he adds:
“We are continually evaluating how best to respond to changing investor demands. To date, we have worked with certain clients interested in establishing co-investment platforms, and continue to work with individual partners on solutions outside of our platform.”
Commenting on her appointment, Herubin says: “Angelo, Gordon has long been recognised for its unwavering commitment to putting its clients first. I am thrilled to work alongside this talented team to meet the evolving needs of the firm’s real estate clients.”
Angelo, Gordon’s reputation in the real estate industry is built on its successful value-added approach across a broad range of real estate investment strategies, says Brody. “I look forward to working closely with the team to further engage the investment community and share our fund offerings with our investment partners.”