The CompanyRound Hill Capital is a leading global specialist real estate investment, development and asset management firm.
Since inception in 2002, Round Hill Capital has acquired and re-positioned for long-term institutional ownership over 110,000 residential units and student housing beds.
Round Hill Capital is a responsible landlord of assets offering housing to a range of occupants, from students through to senior citizens.
Round Hill is a leader in residential real estate in all its forms. Key products include multifamily, student housing, senior living and serviced real estate.
With over 220 employees across 15 offices globally, Round Hill prides itself on being a knowledge-sharing organisation, continuously developing best practices across teams, offices and countries.
Round Hill Capital has an established track record of generating high risk-adjusted returns and invests in and asset manages real estate on behalf of some of the world’s leading institutions and private investors.
RequirementRHC is seeking to hire a Head of Research (HoR), a position which has not existed to date, but is now required as the company grows and continues to in-source key value functions.
There is potential to add staffing resources to create a research team in the future, as the company continues to grow. The scope of the research is Europe and US initially, expanding into LatAm shortly and further in due course.
The firm is constantly investing in a number of continuation strategies as well as evaluating and implementing new ones. There is a requirement to have a robust analytical house view of these strategies in order to continue or cease existing investment programs and commence new ones.
There is also a requirement to analyse market arbitrage opportunities in order to seek relative value across the continent, and more generally direct capital to the most attractive investment opportunities.
It will provide an additional element of investment risk management, and quality control of underwriting assumptions.The research function should have coverage of particularly the residential and logistics markets but also other commercial property sectors as it applies to mixed use projects as the company expands its focus over time, as well as operational businesses and related industries such as healthcare as it applies to senior living real estate etc.
It needs to form a view covering development projects that are sensitive to exit assumptions some years ahead, long term hold strategies exposed to extended market trends and special situation investing to exploit shorter term market dislocations.
As well as the property fundamentals there is considerable impact of capital markets, international capital flows, debt markets and macro-economic factors that need to factored into a holistic analysis.
The HoR will have a budget for sourcing external data as well as have access to proprietary data that comes from being an owner of a very large number of units across our region.
The research function should utilise all available resources to form a view, and depending on the capability could also conduct proprietary quantitative research in-house.
The output of the research function will be used to guide our strategic direction, tactical decisions regarding specific assets, and support of marketing to investors.
Certain outputs will be retained in-house as proprietary information, but other materials could be published or used broadly in marketing initiatives.
The Head of Research will report directly to the CIO, Kirk Lindstrom and Rob Reiskin, Senior Managing Director, both of whom are voting members on the Investment Committee of the firm.
The position will work closely with all of the sector business leads across the firm, and also the Capital Markets Group which is responsible for investor coverage and capital raising.
There is a requirement to travel in support of capital raising meetings, conferences and as required for local research or visiting RHC offices.
The role will have two primary focus areas : 1. Supporting and guiding investment activity and performance
The expectation is that the HoR will publish a market forecast quarterly incorporating third party research and the HoR’s independent view of markets.
It is expected that there will be roughly five acquisition memos per month submitted to investment committee and quarterly asset management meetings.
The HoR will be a resource to the acquisition and asset management professionals but will not do the market research directly.
The HoR will stress test market data in acquisition memo’s and asset management updates against market forecasts and third party data.
The proposed strategies and recommendations should be practical and actionable. Success will be measured by the number of actionable strategies that have been pursued and result in profitable investments.
By providing thought-provoking data, help ensure that RHC are forward thinking and informed of micro and macro trends in relation to new sectors and markets.
2. Supporting marketing activity
Skills and Experience Required
The candidate should have already succeeded in a similar role at another investment management firm focused in real estate, or as a service provider to such firms.
Capability to conduct proprietary quantitative statistical research to determine market signals.
No agencies pleaseLondon, United Kingdom / Round Hill Capital Acquisitions / Permanent