Capri Capital Partners, LLC, has become part of Capri Investment Group (“CIG”), an umbrella that will represent all Capri-affiliated companies and partnerships involved in real estate investment management globally. This represents a restructuring and expansion for the company, which has $3.7 billion in assets collectively under management as of December 31, 2014. CIG is also launching a new website reflecting these changes and covering its entire portfolio of companies at www.capri.global.
CIG consists of five major SEC-registered entities: Capri Capital Partners, Capri Retail, Capri EGM, Capri Global Capital (Cayman) and Capri Africa. All affiliated companies will be referred to as CIG companies in external branding and marketing initiatives going forward.
“CIG is in active expansion domestically and globally, which necessitates the creation of separate teams around the world to execute distinct investment mandates,” says CIG Chairman and CEO Quintin E. Primo III. “This has made it more important than ever for us to rally around common strategic, business and operational initiatives, and reinforce our special and distinctive corporate culture. Uniting our businesses under one umbrella organization helps achieve this and allows us to continue to provide the highest possible level of service to our many institutional clients.”
CIG consists of five major operations:
- Capri Capital Partners Capri Capital Partners, LLC (“CCP”), is CIG’s investment advisor that, along with its predecessor companies, has specialized in multifamily and multifamily mixed-use investments since 1990 on behalf of major institutional investors. Led by its newly appointed President and COO L. Heather Mitchell, a long-serving firm associate, CCP targets mid- and high-rise properties in urban core locations in U.S. gateway cities.
- Capri Retail Capri Retail – consisting of Capri Retail Advisors, LLC, and its property management subsidiary, Capri Retail Services, LLC – is led by President and CEO Ross B. Glickman and Vice Chairman and CIO Kenneth T. Lombard, who serves in addition to his role as vice chairman, Investments, of CIG. Capri Retail focuses on retail opportunities in underserved and evolving retail trade areas in strategically selected major U.S. metropolitan markets.
- Capri EGM Capri EGM, LLC, a joint venture formed in 2014 with Equity Global Management, is focused on income-oriented net lease, sale-leaseback and build-to-suit real estate investments with respect to corporate office, industrial and retail properties. Shelby E. L. Pruett, a veteran investor in the net lease space, is co-chairman and CEO of the company. The company currently targets strong locations in U.S. markets.
- Capri Global Capital In addition to his role at the helm of CIG, Mr. Primo is chairman and CEO of Capri Global Capital, LLC (Cayman) (“CGC”). Since its formation in 2008, CGC has been successful in developing key strategic relationships in the targeted growth markets of Africa, India and the Middle East. Leveraging Capri’s U.S. expertise, CGC is pursuing high-return opportunistic investments in these markets resulting from the emerging urbanization and growing demand for modern commercial and residential properties.
- Capri Africa Capri Africa was formed in 2014 and is led by President and CEO Paul B. Edwards, who also serves as vice chairman of CGC. Capri Africa is incorporated in Mauritius and is a licensed GBL1 and CIS manager. Capri Africa is currently executing investment mandates on behalf of international investors, focusing on seven quickly growing African countries. Natasha J. Mutai, CIO and managing director of Capri Africa’s East and Southern Africa Regions in Nairobi, Kenya, and Kofi D. Asomaning, managing director of Capri Africa’s West Africa Region in Accra, Ghana, are overseeing on-the-ground execution.
Additionally in 2014, Capri expanded its global research capability with the addition of Sameer “Sam” Chandan, Ph.D., chief strategist and global head of Strategy and Research. Dr. Chandan is founder and president of Chandan Economics, a leading commercial real estate data and research firm, and an adjunct associate professor of real estate at the Wharton School of the University of Pennsylvania.
Governance of CIG will be overseen by a newly established Global Management Board, which is led by Quintin E. Primo III as chairman. Other members of the six-member Board include:
- Brian C. Fargo, vice chairman and chief global financial and compliance officer;
- Louis W. Hoyes, vice chairman and chief global investment officer;
- Gwendolyn L. Butler, vice chairwoman and chief marketing officer;
- Kenneth T. Lombard, vice chairman, Investments; and
- Paul B. Edwards, vice chairman, Africa, India and the Middle East.
“I am very proud of the diverse and inclusive team we have built at Capri, especially in light of our active growth and expansion,” says Mr. Primo. “Diversity and inclusion continue to be critical issues within the industry. I believe the homogeneity of private and institutional investment staffs will hold back the industry’s natural growth and maturation and unnecessarily subject it to greater cyclicality. At CIG, I believe our sensitivity to different cultures and ethnicities has been an important element in spurring the organization’s growth.”
Mr. Primo adds, “In everything we do, we seek to challenge conventional thinking and the status quo. We think differently. We believe this adds great value to the long-term benefit of our investors, clients and customers, and makes a meaningful and substantial difference in the lives of those living in the world communities in which we invest.”