Former LarrainVial execs partner with US real estate group for Miami project
By Daniel Gill / Citywire
A pair of former LarrainVial executives who recently launched a Chilean investment company have partnered with US real estate group Royal Palm Companies to develop a real estate project in Miami, according to media reports.
Last year, Ricardo Pérez and Christian Bourke, both veterans of LarrainVial Asset Management’s business in Santiago, Chile, launched local investment firm Insignia Alternative Investments.
The duo have now partnered their firm with Royal Palm Companies, a real estate group specializing in the corporate, hotel and residential sectors with a focus on South Florida, to build multi-family buildings, Chilean newspaper Diario Financiero reported on Monday.
Pérez previously worked as financial risk manager for LarrainVial Asset Management’s mutual fund and investments team and Christian Bourke headed LarrainVial Asset Management’s trading unit in Chile, according to their company bios.
Pérez told Diario Financiero that his firm was looking to provide investors access to the US real estate business and other alternative investments to better approach the ‘new political environment that made us have to find different ways of approaching business.’
Insignia Alternative Investments’ real estate arm develops funds associated with real estate managers both in Chile and abroad by co-investing in projects and assisting with their management.
Across its business line, Insignia manages more than $300m in investments across Chile and the US.
It is also active in the venture capital space, telling Diario Financiero that it recently signed a partnership with Socialab, a startup firm that invests in early-stage companies with a social and sustainable outlook.
Meanwhile, Royal Palm Companies operates a subsidiary private equity and investment firm in Miami called Participant Capital, which has looked to bring real estate investment opportunities in the US to Latin American investors.
In November of 2020, it launched a feeder fund available to investors in Bolivia, Ecuador Peru and Colombia focused on the sector.
