Mesirow Financial Exceeds Targeted Commitments for Final Closing
Multi-Manager Strategies Successfully Raises $225 million
CHICAGO, January 13, 2009 — Mesirow Financial today announced the successful final closing of the Mesirow Financial Institutional Real Estate's ("MFIRE") first International multi-manager investment partnership, as of December 31, 2008. The partnership is managed by the MFIRE, Multi-Manager Strategies group, a division of Mesirow Financial Investment Management, Inc., an SEC-registered advisor. With over $225 million in commitments from investors, Mesirow Financial exceeded the initial $200 million target.
Mesirow Financial Institutional Real Estate, Multi-Manager Strategies, utilizes the consulting expertise and market knowledge of its exclusive consultant, Courtland Partners, Ltd. – one of the leading real estate consultants in the industry with over $30 billion in real estate assets under advisement – to bolster its market intelligence. With over 300 years of real estate experience on the combined team, Mesirow Financial Institutional Real Estate, Multi-Manager Strategies group's objective is to provide investors with the opportunity to capitalize on the attractive, uncorrelated return potential of non-core, private real estate, with multiple layers of diversification through a single investment. The result is a broadly diversified strategy, which would otherwise be unattainable by our investors due to lack of resources, access or capital.
Joshua K. Daitch, senior managing director and portfolio manager stated, "We're very excited about exceeding our goal and about the investment opportunities we are starting to see." He added, "In spite of current market conditions, our firm's ability along with Courtland to select and access top-tier real estate partnerships and develop diversified portfolios while actively managing risk has clearly driven this success. We have been very cautious investors, and I believe that our patience resonates with our clients." Since the initial closing in June 2007, less than 20% of commitments have been invested, demonstrating the group's prudent approach to seeking out optimal investment opportunities.
"The MFIRE group and its partner operate as a very committed, cohesive team," said John Boudinot, executive director, City of Cincinnati Retirement System. "Ultimately being oversubscribed is quite an accomplishment," he said.
Courtland Partners, Ltd. provides institutional real estate consulting. Courtland provides clients with a full range of consulting services including strategic and investment planning, market review, research, benchmarking, real estate operating company evaluations, performance measurement and analysis, manager/partner selection, investment evaluation and manager/partner fee structuring. Courtland has advised and assisted public, corporate, and Taft-Hartley pension plans in the positioning of portfolios representing over $30 billion in real estate investments. The firm is comprised of 26 professionals located throughout the country and is headquartered in Cleveland, OH. For more information about Courtland Partners, Ltd., visit its Web site at www.courtlandpartners.com.
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with nearly $30 billion in assets under management and more than 1,100 employees in locations across the country and in London. With expertise in Investment Management, Investment Services, Insurance Services, Investment Banking, Consulting and Real Estate, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals and was named one of Chicago's Best Places to Work by Crain's Chicago Business in 2008. For the fiscal year ended March 31, 2008, the firm posted $490 million in revenue, with more than $246 million in capital. For more information about Mesirow Financial, visit its Web site at www.mesirowfinancial.com.
For more information, contact: Julie Liedtke, Mesirow Financial, 312.595.7902.
The Mesirow Financial name and logo are registered service marks of Mesirow Financial Holdings, Inc., © 2009, Mesirow Financial Holdings, Inc. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. Any opinions expressed are subject to change without notice. It should not be assumed that any recommendations incorporated herein will be profitable or will equal past performance. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow Financial investment vehicle(s).
Securities offered through Mesirow Financial, Inc. member NYSE, SIPC. Insurance services provided through Mesirow Insurance Services, Inc.
