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Real estate advisory firm Hodes Weill & Associates has launched Tunbridge Partners, a asset management company, with backing from private equity firm Pine Brook and billionaire George Soros' US investment fund Quantum Strategic Partners.

The new business will be capitalized with $500 mln (€450 mln) of shareholder capital from the consortium of investors led by Pine Brook, a private equity firm, and Quantum Strategic Partners, with additional institutional investors expected to include several US-based public and corporate pension plans.

The company will be led by a management team including former Credit Suisse's AMF execs Brian Finn and Sean Gallary.

Equity investments
Tunbridge will be focused on making minority equity investments in real estate- and real asset-focused investment managers across property sectors, strategies and geographies. In addition to providing capital, Tunbridge will provide strategic and operational support to its partner firms, including access to global institutional coverage and distribution services through its affiliation with Hodes Weill.

Finn and Gallary are experienced investors and former executives of Asset Management Finance (AMF), an affiliate of Credit Suisse that focused exclusively on acquiring stakes in traditional and alternative investment management firms. Since its inception, AMF acquired interests in 21 managers.

Finn brings over 30 years of experience in the financial services industry. Earlier positions at Credit Suisse include Co-president of Credit Suisse First Boston, CEO of Credit Suisse USA, head of Alternative Investments, and Co-head of Mergers & Acquisitions. Finn is currently a Strategic advisor to KKR.

Gallary has more than 15 years of experience in principal investing, corporate development and M&A in the asset management industry. Prior to Tunbridge, he was a managing director at Orix USA Asset Management, where he was responsible for investing ORIX USA’s capital in asset management activities, including strategic acquisitions.

'We are excited about the opportunity to invest in institutional investment managers focused on real estate and real assets. The partnership with Hodes Weill provides unique access to the market and the ability for Tunbridge to support managers in achieving their growth plans,' said Brian Finn.

'Real assets is the fastest growing asset class for institutional allocations and, as the investment industry continues to expand and mature, managers require capital to address a range of strategic objectives. Tunbridge is purpose-built to address this need,' said William Spiegel, managing director at Pine Brook.