Blackwood’s client is a real estate private equity fund with global and European funds. With a view to the imminent fundraising they needed to upgrade their coverage of the German market.
Blackwood worked closely with the Head of Europe and the CIO to clearly define the criteria for this appointment. The key requirement was to identify and attract a proven investor in the German market with a track record of large scale opportunistic investment.
The individual needed to work within the broader business in Europe and bring influence to the investment committee. It was also noted that the candidate needed to exhibit cultural sensitivity in order to fit into a well established senior team.
A relatively small pool of suitable candidates existed with successful experience in the sector at the right level and of German nationality. It was also noted that many candidates with such desired experience would likely be tied into a current firm and unable to move. The location was also a factor, with certain candidates not keen to relocate. A constant challenge in the assessment process was to find candidates with a demonstrable successful track record given the recent investment climate in Germany.
Blackwood appointed the Head of Germany of a real estate private equity fund.
The process to longlist took 3 weeks, outlining a fully referenced mapping of the market including both domestic and international players. It took a further 2 weeks to reach shortlist stage with a clear favourite identified. The resignation process took time due to the tied in nature of the successful candidate and Blackwood remained on top of this process. Blackwood completed full referencing throughout the search.