EG has appointed a new head of capital in Stephen Rich, ahead of an expected period of growth for the group’s institutional funds.
Rich is bringing over 20 years of experience across both private and public real estate capital markets, spanning Australia, Asia and Europe.
“EG has a great entrepreneurial spirit. I look 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 program,” said Rich.
EG was founded in 2000 and has $5.1 billion under management on behalf of institutional investors and wholesale clients.
EG currently has $3.9 billion in its development pipeline, with 16.7% per annum realised in IRR for institutional funds.
“It is a pleasure to welcome Steve to EG as Head of Capital,” said Chris Pak, joint managing director at EG.
“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.”
Late last year, EG made a commitment to “real zero” carbon by 2030 and to take track live carbon data from the energy grid in its approach to climate action.
