IlluMyFi

Dubai: Cavendish Maxwell, a leading independent firm of chartered surveyors and property consultants in the Middle East, is pleased to announce the appointment of Kieran Burley as the new Head of its Commercial Agency team. With over 17 years of experience in the UAE real estate market, Kieran brings a wealth of expertise from both developer and client-side perspectives. In his new role, Kieran will be responsible for overseeing and leading the commercial agency team, providing clients with best-in-class transactional services and strategic advisory in the dynamic commercial real estate sector. With a deep understanding of market trends and a strong network of industry connections, Kieran is well-equipped to guide clients towards optimal solutions and drive value for their commercial property investments. As a highly accomplished professional in the field, Kieran has a successful track record of managing high-profile commercial real estate portfolios and delivering exceptional results for clients. His expertise spans various sectors, including office spaces, retail properties, industrial warehouses, development plots and mixed-use developments. Kieran is known for his ability to forge strong relationships with clients and provide tailored solutions that align with their business objectives. Commenting on the appointment Chris Taylor, Group CEO said: "We are delighted to welcome Kieran to our team. His extensive experience, industry knowledge and leadership skills make him the ideal candidate to lead our Commercial Agency team. With his strategic mindset and client-centric approach, we are confident that Kieran will drive the growth of our commercial agency services and further strengthen our position in the market." Commenting on his new role, Kieran Burley stated, "I am thrilled to join Cavendish Maxwell and take on the responsibility of leading the Commercial Agency team. I am committed to delivering exceptional value to our clients by providing tailored solutions that meet their unique needs. With the support of our talented team, I am confident that we will achieve new heights of success and solidify Cavendish Maxwell's reputation as a trusted advisor in the commercial real estate market." Cavendish Maxwell is confident that Kieran's appointment will further enhance the company's ability to deliver outstanding results for its clients and strengthen its position as a leading property consultancy firm in the market. About Cavendish Maxwell: Cavendish Maxwell is a leading independent firm of chartered surveyors and property consultants in the Middle East, with offices in Dubai, Abu Dhabi, Sharjah, Ajman, Kuwait City and Muscat. The company is a member of the Royal Institution of Chartered Surveyors (RICS) and offers a full range of property-related services, including valuation, strategic advisory, research, project and building consultancy and investment and commercial agency expertise. With a team of experienced professionals and a commitment to delivering exceptional service, Cavendish Maxwell has established itself as a trusted advisor in the regional real estate market. For all media related enquiries, please contact: David Miles Director Marketing and Products david.miles@cavendishmaxwell.com +971 50 261 0811

Sentiment

Bearish/Bullish

13.01.24 07:34

by zawya.com

BlackRock strikes $12.5bln deal for Global Infrastructure Partners

NEW YORK/LONDON - BlackRock said on Friday it would buy Global Infrastructure Partners (GIP) for $12.5 billion in a major bet on alternative assets and announced a shake-up of its top management. The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power, and digital infrastructure projects around the globe. Once the deal closes, the firm will hold approximately $150 billion in infrastructure assets across a portfolio that ranges from the U.S. liquefied natural gas export market to wastewater services in France to airports in England and Australia. Soaring demand for logistics and digital infrastructure, and the trillions of dollars needed for the transition away from high-carbon energy, have made the asset class increasingly popular among institutional investors. "Infrastructure is one of the most exciting long-term investment opportunities, as a number of structural shifts re-shape the global economy," said chief executive Larry Fink. BlackRock, which manages $10 trillion across all markets, has been on the hunt for what it hopes will be a transformative deal as its revenues stagnated and its environmental, social, and corporate governance business came under political attacks in the United States. "This is [Fink's] chance to put his final fingerprint on the company" and allow it to compete with firms such as BlackStone and Apollo Global Management, said Kyle Sanders, an analyst at Edward Jones, who has a buy rating on the stock. Founded in 2006, GIP manages more than $100 billion in assets and has a portfolio including Britain's Gatwick airport, the Port of Melbourne and major offshore wind projects. MANAGEMENT CHANGES BlackRock also unveiled changes to its senior management structure, at a time when speculation has been growing over who will succeed Fink, who founded BlackRock in 1988. Stephen Cohen becomes chief product officer and will lead a new global product strategy group, while Salim Ramji, global head of iShares and index investments, is leaving, according to a company memo seen by Reuters. BlackRock is also creating a new international business structure under Rachel Lord to lead Europe, the Middle East, India, and Asia Pacific, the memo said. Five of GIP's founding partners will join BlackRock, including GIP Chairman Bayo Ogunlesi, who will also join BlackRock's board of directors following closure of the deal, it added. Ogunlesi will step down from Goldman Sachs' board following his move to BlackRock, Goldman CEO David Solomon said on Friday. The deal adds "new contenders" to the list of candidates to succeed Fink, who at 71 has yet to name his eventual replacement, said Cathy Seifert, an analyst at CFRA. "As alternative assets become an increasingly important part of BlackRock's business mix, the next leader's private asset skill set will become more important," she said. PROFIT BEAT BlackRock also reported an 8% rise in quarterly profit, helped by a rebound i...