N.Y. HF Seeks Real Estate Opps.

May 27 2008 | 10:40am ET

Money management firm Alpha Equity Management and real estate investment firm The Praedium Group have teamed up to manage and develop investment products focused on publicly-traded real estate securities.

The joint venture pools Alpha Equity’s securities investment experience and performance record with Praedium’s experience as a seasoned real estate investor and fiduciary.

“My partners and I are very excited to join forces with Praedium,” said Kevin Means, managing partner at New York-based Alpha Equity, which specializes in long/short equity and 130/30 strategies. “We believe that their private market expertise complements our public market experience, and that their well-established reputation in the real estate community complements our growing presence in the hedge fund community.”

Russell Appel, president of Praedium, added, “While Praedium’s core strategy continues to be identifying opportunistic, value-added real estate deals, we are very excited to team with Alpha Equity and look forward to working closely with them on various real estate securities products."

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