Jonathan Hannam, former group executive of capital at Mirvac, has launched his own investment firm a few months after leaving the Australia-listed developer, Private Equity International's sister title PERE reported.
In his new entrepreneurial venture, Hannam is the co-founder and managing director of Taronga Group, a Sydney-based firm launched late last year to invest in real estate, technology, sports and entertainment for global institutional and high-net-worth investors.
Taronga Projects, one of the divisions in the group, will specifically provide local operating expertise to institutions that want to invest in real estate assets across Australia. The firm is understood to have already secured a mandate with a large Asian conglomerate to invest A$800 million (€522 million; $566 million) in residential properties across the country.
Other divisions in the Taronga Group include Taronga Funds Management, Taronga Sports & Entertainment, Taronga Communities, and Taronga Ventures that is seeking to launch a venture capital fund to invest in real estate innovation projects.
Hannam stepped down from his position as group executive, capital, at Mirvac around September last year after spending around two years and nine months in the position. During his time there, Hannam oversaw Mirvac’s fund management business and also led the establishment of the Australian Office Alliance with TIAA-CREF. Additionally, he was also the chair of the investment committee of the Mirvac Wholesale Development Fund, a club fund established in 2007 with Abu Dhabi Investment Authority (ADIA), Singapore’s GIC, and Abacus Property Group.
A seasoned real estate executive, Hannam has previously served as the head of Asia for the Middle Eastern sovereign wealth fund ADIA; as a managing director for Southeast Asia at ING Real Estate Investment Management; and was also the director and part-owner of Cornerstone REIM, the Sydney-headquartered investment manager.