EG appoints head of capital

The data driven investment manager and developer with over $5.1 billion in assets under management has hired Stephen Rich as head of capital.

Stephen joins the EG team with more than 20 years' experience working in private and public real estate capital markets across Australia, Asia and Europe.

He lands from Aliro Group, the private Australian property development, investment and funds management business where he had a similar role.

Before that, he was a managing director at M3 Capital Partners' Hong Kong office holding dual responsibilities for both capital advisory and principal Investment activity.

Previous roles include REIT research at Credit Suisse, UBS and Deutsche.

Additionally, Rich is a member of the .Property Council of Australia's global investment committee.

"It's a pleasure to welcome Steve to EG as head of capital," said EG's joint managing Director, Chris Pak.

"His expertise in business development, capital raising and strategic investment will help as we look to tailor investment offerings for institutional capital to access Australian real estate opportunities."

Following 12 months of challenging market conditions within the real estate sector, Oak stated, Rich's hire comes at an inflexion period for EG ahead of what's expected to be an exciting period of growth for their institutional funds.

For his part, Rich said he looked forward to helping EG capitalise on its series of exciting new business ventures as the team continues to deliver compelling opportunities aligned with investor appetite through a robust investment management platform.

With $3.9 billion in development pipeline, and 16.7 per cent per annum in realised IRR for institutional funds, EG underlined its committment to finding a better path to better returns.