Key Takeaways
- • Sitex Group has named Ed Lerum, formerly head of global logistics real estate at Norges Bank Investment Management (NBIM), as managing director to lead the national expansion of its institutional investment management platform.
- • Lerum will work alongside CEO Brian Milberg, co-heads of investments Blake Chroman and Zach McHugh, and CFO Paul Cassano.
- • The role centers on developing new institutional investment strategies and capital partnerships targeting opportunities across major U.S. industrial real estate markets.
Summary
Sitex Group has appointed Ed Lerum as managing director, tasking him with leading the national expansion of the firm's institutional investment management platform, according to the company's announcement as reported by Institutional Real Estate, Inc. Lerum previously served as head of global logistics real estate at Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund manager.
In a statement, Lerum said he had worked with and evaluated industrial real estate operators globally and had seen firsthand what distinguishes the strongest investment platforms. He described Sitex as "among the most impressive firms I've encountered," citing its "exceptional ability to recognize value and leverage deep industry relationships," and said he sees "tremendous potential to create something significant on a national scale."
Lerum will join a leadership group that includes Brian Milberg, chief executive officer; Blake Chroman and Zach McHugh, co-heads of investments; and Paul Cassano, chief financial officer. Together, the team will develop new institutional investment strategies and capital partnerships aimed at capitalizing on opportunities across major U.S. industrial real estate markets. The announcement did not disclose fund sizes, target returns, or a timeline for launching new strategies.
In a statement, Lerum said he had worked with and evaluated industrial real estate operators globally and had seen firsthand what distinguishes the strongest investment platforms. He described Sitex as "among the most impressive firms I've encountered," citing its "exceptional ability to recognize value and leverage deep industry relationships," and said he sees "tremendous potential to create something significant on a national scale."
Lerum will join a leadership group that includes Brian Milberg, chief executive officer; Blake Chroman and Zach McHugh, co-heads of investments; and Paul Cassano, chief financial officer. Together, the team will develop new institutional investment strategies and capital partnerships aimed at capitalizing on opportunities across major U.S. industrial real estate markets. The announcement did not disclose fund sizes, target returns, or a timeline for launching new strategies.
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