Colliers Enhances Diversification with Harrison Street Rebrand
Colliers Unveils New Identity for Investment Management Division
In a strategic move that is set to strengthen its market position, Colliers (NASDAQ, TSX: CIGI), a distinguished professional services and investment management firm, has announced a comprehensive rebrand of its investment management division to Harrison Street Asset Management. This transition signifies a commitment to the renowned Harrison Street brand, amplifying its presence within the global investment community.
Leadership Changes and Strategic Direction
As part of this significant evolution, Christopher Merrill, who co-founded Harrison Street, has taken on the role of Global CEO, simultaneously becoming the largest individual shareholder of Harrison Street Asset Management (HSAM). This dual role enhances continuity and aligns investor interests, setting the stage for a long-term journey focused on growth and value creation.
To bolster the leadership team further, Zachary Michaud, previously the Co-Chief Investment Officer of Colliers, has stepped into the position of Managing Partner and Global Chief Financial Officer. Additionally, Stephen Gordon, who held the CFO title at Harrison Street, now takes on the responsibilities of Managing Partner and Global Chief Operating Officer. This leadership structure will ensure that the specialized operating platforms and investment teams of HSAM continue to thrive.
A Robust Investment Management Portfolio
Harrison Street excels in managing a colossal portfolio exceeding $100 billion in assets. The firm leverages the expertise of its investment professionals hailing from Basalt Infrastructure Partners, Versus Capital, Rockwood Capital, and Colliers Global Investors, combining operational scale with innovative investment strategies for the benefit of global investors.
HSAM is committed to expanding its distribution capabilities on a global scale while actively pursuing new strategies and asset classes through its established partnership model. The drive to innovate and adapt is evident, with the firm prioritizing organic growth alongside fruitful collaborative ventures.
Vision for Future Growth
Christopher Merrill expressed his enthusiasm for the upcoming phase of growth, stating, "We are thrilled to embark on this new chapter. Our aim is to enhance our capabilities by tapping into the deep expertise present within our teams and partners. We aspire to position Harrison Street as a premier global investment partner. Our extensive experience in alternative investment management across sectors such as infrastructure, real estate, and credit uniquely equips us to offer transformative investment solutions to our clients."
Jay Hennick, Global Chairman and CEO of Colliers, reiterated the strength of Harrison Street’s track record, highlighting its leadership and commitment to delivering exceptional results for investors. Hennick stated, "With an unyielding dedication to excellence, combined with Colliers' support, we are on a path to build one of the world’s foremost global alternative investment platforms."
About Harrison Street Asset Management
Harrison Street Asset Management stands out as a leading alternative investment management firm. With a focus on thoroughly differentiated assets, the company manages over $100 billion across various strategies in infrastructure, real estate, and credit. The firm, headquartered in both Chicago and Toronto, operates with offices throughout North America, Europe, and Asia, delivering innovative solutions to a diverse clientele that includes over 900 institutional and more than 10,000 private wealth investors.
Recognized as one of the Best Places to Work by industry publications for several years, including a noteworthy acknowledgment from Pensions & Investments, Harrison Street has also received 16 prestigious awards from PERE since 2019, underlining its status as a leader in the investment management sector.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is an innovative and diversified professional services and investment management firm. Its operations are driven by three key platforms: Real Estate Services, Engineering, and Investment Management. With a robust business model and a partnership-oriented culture, Colliers consistently delivers impressive returns for its shareholders and aims to elevate the success of its clients and employees globally. The firm's impressive financial performance is backed by nearly $5.0 billion in annual revenue and a workforce of approximately 23,000 professionals.
Frequently Asked Questions
What led to the rebranding of Colliers' investment management division?
The rebranding to Harrison Street Asset Management reflects the firm's commitment to growth, global recognition, and aligned investor interests.
Who are the key leaders at Harrison Street Asset Management?
Christopher Merrill serves as Global CEO and Zachary Michaud is the Managing Partner & Global CFO, among other leadership roles.
What is the total asset management of Harrison Street?
Harrison Street manages over $100 billion in assets across multiple alternative investment strategies.
How does Harrison Street Asset Management plan to grow?
The firm aims to expand globally by enhancing distribution capabilities and pursuing new investment strategies both organically and through partnerships.
What awards has Harrison Street Asset Management received?
Harrison Street has been celebrated as one of the Best Places to Work and has received numerous awards from PERE, including the 2024 Alternatives Investor of the Year – Global award.
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