Big 5 Asset Management, a Denver-based alternative asset management firm, has acquired a real estate securities fund launched by Credit Suisse.
Renamed as Rhino Income Opportunity Fund, it will continue to invest in preferred shares of Real Estate Investment Trusts (REITs) and joins Big 5 Asset Management’s global long-short equity fund Lion Global.
However, the Rhino fund will continue to be managed by Lawrence Raiman, former head of Credit Suisse’ global real estate securities business.
Bo Brownstein, CEO and founder of Big 5 Asset Management, said: “Having someone with Mr Raiman’s credentials join the Big 5 Asset Management family is confirmation of our ability to attract the finest talent in the investment community. We welcome Mr Raiman as he moves into this more entrepreneurial phase of his career and are thrilled to offer his remarkable skill set to our investors.
“Over the past two decades, Mr Raiman has participated in the development of the REIT industry and helped facilitate its growth from $11bn in market cap in 1992 to approximately $600bn today. This breadth and depth of experience is a scarce asset, one which will be invaluable to our investment committee and a resource within our New York office.”
Mr Raiman, partner of Big 5 Asset Management, said: “In Big 5 Asset Management I saw the opportunity to help build one of the most dynamic alternative investment firms in the country. The pedigree and enthusiasm of the investment team at Big 5 is second to none. We share a common business vision and investment research methodology, which will be utilized throughout all market cycles.”