HQ Capital, a private equity and real estate investment firm formed by combining three alternative investment managers, has reshuffled its leadership team following its rebranding last September.
The firm, which manages more than $11 billion in assets, said on Monday it has appointed Georg Wunderlin as chief executive, Ernest Boles as vice-chairman, and Marcel Giacometti as senior advisor.
HQ was formed last September by combining two US-based investment managers – private equity firm Auda and real estate firm Real Estate Capital Partners – with Germany-based mid-cap buyout firm Equita. Through Auda and RECAP, HQ has been active in private equity and real estate since 1989. Through Equita, HQ has been acquiring majority stakes in companies in the German-speaking regions of Europe since 1992.
HQ's seventh fund, Auda Capital VII, a fund of funds vehicle, held a final close on $375 million, above its target of $350 million, in July. HQ said it would make primary and secondaries investments in private equity funds from ACAP VII.
Wunderlin, who is succeeding Boles as chief executive, is HQ’s former chief operating officer and co-managing director. He has been at the company since 2012.
Boles, who is replacing Giacometti as vice-chairman, will continue to advise HQ on its operations, and will remain part of the firm’s executive management, the company said. Boles will also continue to be a member of the investment committees for real estate and private equity, and will manage a number of the firm’s client relationships.
Giacometti will take up his new role as senior advisor on 1 January 2017. He will continue to be a member of the investment committee for private equity and manage a number of client relationships.
Boles and Wunderlin played an “integral role” in the rebranding of Auda, RECAP, and Equita as HQ Capital, the company said. Boles has been chief executive of HQ and Auda since 2007. Giacometti co-founded Auda in 1989 and served as chief executive until 2007.
In private equity, HQ Capital offers a full range of investment programmes through funds and separate accounts, including primary fund investing, the acquisition of assets on the secondaries market and co-investments with primary fund managers.
In real estate, the firm invests in existing properties as well as in real estate development projects across the United States. Investments include multifamily residential, office, industrial, retail, hotel and mixed-use properties.