Heitman
Institutional investorChicago · 56 people tracked
Also known as Heitman Capital Management Llc · HEITMAN INTERNATIONAL HK LIMITED · HEITMAN INTERNATIONAL LLC · HEITMAN INTERNATIONAL REAL ESTATE SECURITIES PTY LIMITED · HEITMAN REAL ESTATE SECURITIES LLC
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Investment thesis
Heitman focuses exclusively on real estate investment, providing capital and investment management across three main strategies: private equity real estate, private debt, and public real estate securities. With roughly six decades of investment experience and offices around the world, the firm delivers innovative real estate solutions to its investors globally.
Source: firm website, verified Oct 13, 2026.
Team · 56 people
from the firm's website & public directoriesAkira Nishimura is a Managing Director in Heitman's Client Service & Marketing group, based in Tokyo, where he leads client service and marketing for the firm's products across Asia. He previously served as Senior Managing Director and Co-Head of Investor Relations for Asia-Pacific at LaSalle Investment Management, and has held senior roles at Credit Suisse, Morgan Stanley, and Mizuho Financial Group. He holds a BA in Economics from Keio University and an MS in Industrial Administration from Carnegie Mellon University, and is a US CPA and ARES Certified Master.
Beau Titchkosky is a Managing Director in Heitman's Client Service & Marketing group and an equity owner of the firm, overseeing client service and marketing of the firm's products in Australia and New Zealand. He previously served as head of sales for Legg Mason, covering institutional and retail sales teams in Australia and New Zealand, and has held senior roles at Bankers Trust, Deutsche Bank, and AVIVA. He studied at the University of Canberra and INSEAD Business School and holds the CIMA designation.
Brad Fu is a Managing Director, Portfolio Manager, and Co-Head of Heitman's Asia-Pacific Private Equity group, where he helps lead the firm's regional investment platform and sourcing of real estate investments and joint ventures. He previously served as Director and Head of Real Estate at Anbang Insurance and as a Portfolio Manager for Strategic Real Estate Asia at APG Asset Management NV, and earlier worked in the REITs origination team at DBS Asia Capital. He holds a BS in Finance from New York University's Stern School of Business.
Brian Pieracci is a Managing Director and Head of Heitman's North American Private Real Estate Equity group, where he oversees the region's investment activities and portfolio and asset management operations for funds and separate accounts. An equity owner of the firm, he serves on Heitman's Global Management Committee, North American Private Equity Investment Committee, and North American Valuation Committee, and has been involved in $18 billion of investment activity across various property types. He began his career at Heitman as an Investment Analyst in the Acquisitions group and holds a BS in Finance and Real Estate from Indiana University's Kelley School of Business.
Charles Harbin is a Managing Director, Co-Head, and Portfolio Manager of Heitman's Global Real Estate Securities group and an equity owner of the firm, overseeing the group's investments and trading along with US portfolio management covering the industrial, self-storage, and office sectors. He joined Heitman's Public Real Estate Securities group in 2009 and previously worked as a senior analyst/vice president at Deutsche Bank/RREEF and held analyst roles at Renascent Capital Management and Prebon Yamane. He holds a BA in Economics with honors from Sewanee – The University of the South and is a CFA charterholder.
David Maki is Senior Managing Director and Co-Head of Heitman's Real Estate Debt group, where he serves as a portfolio manager for the firm's real estate debt separate accounts and commingled funds and oversees global capital markets responsibilities across the US, Europe, and Asia-Pacific. He is an equity owner of the firm and sits on its Board of Managers and Debt Investment Committee. Before Heitman he held roles including Head of North American Capital Markets at RREEF, National Head of Real Estate Mezzanine Finance at LaSalle Bank Corporation, and Managing Director in the Real Estate Merchant Banking group at Wells Fargo Bank. He holds a Bachelor of Technology in Architecture from Ryerson University and an MBA from the University of Michigan.
Greg Leadholm is a Senior Managing Director and equity owner at Heitman, where he leads the Debt Investment Group and serves as portfolio manager for Heitman Real Estate Debt Partners, L.P., Heitman Core Real Estate Debt Income Trust, and several separate account relationships. He is a member of Heitman's Global Management Committee and Debt Investment Committee, and oversees a team that originates, structures, and manages senior and mezzanine debt and preferred equity investments across real estate sectors. His experience spans loan structuring and negotiation, asset underwriting, risk assessment, and portfolio management, with property types including office, retail, industrial, multifamily, hotel, for-sale residential, and land development.
Jeff Yurk is a Managing Director, Co-Head, and Portfolio Manager of Heitman's Global Real Estate Securities group, where he oversees business operations and covers the US health care REIT sector. He is an equity owner of the firm and sits on its Global Management Committee, having joined Heitman in 2004 after working at Principal Global Investors on commercial mortgage-backed securities research. He holds a BBA and MBA from the University of Wisconsin-Madison and is a CFA charterholder.
John Mancuso, CFA, is Managing Director and Head of Global Sales in Heitman's Client Service & Marketing group and an equity owner of the firm, where he leads global sales, relationship management, and client service and marketing. Before joining Heitman in 2015, he served as head of private markets research at Russell Investments and previously held roles at Meketa Investment Group and Lucent Technologies. He holds a BS in Finance from Boston College and an MS in Management from Babson College's F.W. Olin School of Business.
Lewis Ingall is Senior Managing Director of Heitman's Client Service & Marketing Group and an equity owner of the firm, serving on its Board of Managers, Global Management Committee, and Private Equity and Debt Investment Committees. He began his career at Lehman Brothers in corporate finance focused on M&A and real estate capital markets, then joined JMB Realty's acquisitions group in 1988, becoming a senior member of the combined investment group after JMB merged with Heitman in 1994. He holds a BA from Wesleyan University and an MBA from Stanford University's Graduate School of Business.
Tony Smedley is a Managing Director and Head of European Private Equity at Heitman, where he leads the firm's European private equity group across acquisitions, asset management, operations, and strategy, and serves on the European Investment Committee and Global Management Committee. Before Heitman, he was Head of Continental Europe at Schroders, overseeing fund management teams and strategies across public markets, debt, and private equity. He qualified as a member of the Royal Institution of Chartered Surveyors in 1993 after studying in Sheffield and Manchester, and holds an Investment Management Certificate.
Yun Choi is a Managing Director, Portfolio Manager, and Co-Head of Heitman's Asia-Pacific Private Equity group, as well as an equity owner of the firm and Director of its Seoul office. She oversees the firm's Asia-Pacific investment platform, sourcing real estate investments and joint venture partnerships across the region, and serves on the firm's Global Management Committee and Asia-Pacific Private Equity Investment Committee. Before Heitman, she was a portfolio manager at National Pension Service Korea and worked on the strategic planning team at Samsung Everland Inc.; she holds a BS in Architectural Engineering from Yonsei University and a Master of Management in Hospitality from Cornell University.
Anthony Stamato is Chief Legal Officer of Heitman, an equity owner of the firm, and a member of its Global Management Committee, overseeing the legal aspects of the firm's business activities and operations. Before Heitman, he was a partner at Kaye Scholer LLP, advising private equity funds, banks, and institutional investors on matters including disputes, financing, transaction structuring, compliance, and risk management, and earlier was a partner at Baker & McKenzie. He holds a JD from The University of Chicago Law School and an AB in English and psychology from Stanford University.
Blaise Keane is an Executive Vice President in Heitman's North American Portfolio Management group and Senior Portfolio Manager for Heitman America Real Estate Trust (HART), where he oversees strategy, investments, financings, dispositions, and asset management. He is an equity owner of the firm and a member of its Board of Managers, and previously managed one of Heitman's largest separate account client portfolios and worked on equity investment opportunities for institutional pension fund clients. He joined Heitman through its merger with JMB Institutional Realty Corporation, began his career at Ernst & Young, and holds a BA from St. Mary's University of Minnesota and a Masters of Management from Northwestern University's Kellogg School; he is a CPA.
Darrah Bixler serves as Heitman's Chief People Officer, is an equity owner of the firm, and sits on its Global Management Committee, overseeing areas such as global workforce planning, talent acquisition, diversity and inclusion, training, total rewards, and performance management. Before Heitman, she was Vice President of Human Resources at GoHealth and previously held HR leadership roles at Accretive Solutions, IRI, Kelly Services, and PepsiCo. She holds a BA in Psychology from Kalamazoo College and a Master's in Labor and Industrial Relations from Michigan State University.
Gordon Black is an Executive Vice President and Portfolio Manager at Heitman, where he is an equity owner and serves on the firm's European Private Equity Investment Committee. He manages select European private equity portfolios and global investment mandates, and from 2000 to 2018 led Heitman's European Private Equity Group, participating in European real estate transactions and global acquisition and disposition activity totaling billions of euros. He holds a BA in Finance from Michigan State University and belongs to the Urban Land Institute and the Commercial Investment Real Estate Institute.
Irene Yartey-Onyango is Heitman's Chief Strategy & Operations Officer, where she leads efforts to optimize processes and resource allocation and oversees the firm's Marketing and Product Strategy & Design groups. She is a member of the Global Management Committee and an equity owner of the firm. Before Heitman, she was Director, Alternatives Product Manager at BlackRock, and previously worked in Morgan Stanley's Equity Capital Markets Group and at J.P. Morgan Asset Management.
Julie Feller is Chief Technology Operations Officer and Co-Head of Heitman's Data & Technology group, and a member of the Global Management Committee. She oversees the firm's Global Technical Services, Cybersecurity & Infrastructure, Data & Technology Operations, and Global Facilities teams, along with vendor and records management, budgeting, and business continuity planning. She holds a BS in Secondary Education with a minor in English from the University of Wisconsin-Madison.
Larry Christensen is Chief Financial Officer of Heitman, an equity owner of the firm, and a member of its Global Management Committee, overseeing the firm's corporate and real estate financial operations. He previously served as Senior Vice President of Heitman's Investor Accounting group, managing analysts and accountants across Chicago, Luxembourg, and Warsaw, and earlier worked in audit at Coopers & Lybrand. He holds a BBA from the University of Michigan.
Laura Craft is Global Head of Portfolio Sustainability Strategies at Heitman and an equity owner of the firm, with nearly 20 years of experience in real estate private equity, private debt, and listed securities investment management. She began her career as a financial analyst doing DCF valuation work and later built operational performance programs at two large investment managers. She holds a double BA in Real Estate and Business Management from the University of Georgia and is a graduate of the Urban Land Institute's Center for Leadership program.
Mary Ludgin is a Senior Advisor to Heitman and an equity owner of the firm, serving on its Global Investment and Global Management Committees. She oversees the firm's sustainability work and edits its climate-risk report series produced with the Urban Land Institute. She previously spent over 25 years as Senior Managing Director and Head of Global Investment Research, and holds an AB from Vassar College and an MA and Ph.D. from Northwestern University.
Mike Trench is an Executive Vice President in Heitman's North American Portfolio Management group, Co-Portfolio Manager for the Heitman Value Series, and an equity owner of the firm, overseeing fund strategy, business plan execution, acquisitions and dispositions, and investor and joint venture partner relations. He previously worked in Heitman's North American Acquisitions and Asset Management groups, focusing on value-add investment programs, and has been involved in real estate transactions across retail, residential, self-storage, office, and industrial property types. He holds a BS in Finance with a specialization in Real Estate and Urban Economics from the University of Illinois at Urbana-Champaign.
Pete Fawcett is an Executive Vice President in Heitman's Portfolio Management group and sits on the firm's North American Private Equity and Debt Investment Committees. He joined Heitman in 1987 and has worked in acquisitions, client service and marketing, and portfolio and asset management. Before Heitman, he was a lending officer in the Real Estate Department at Continental Bank, and he holds a BA from Vanderbilt University and an MBA from Northwestern University.
Rachna Velamati is Heitman's Chief Diversity Officer and Head of Talent Management, an equity owner of the firm, and a member of its Global Management Committee and DEI Council, where she leads inclusion and equity strategies. She previously served as a Vice President at Nuveen leading its Inclusion, Diversity & Equity efforts, and earlier held a VP role at Heitman overseeing global recruitment and co-leading the DEI function, along with talent acquisition roles at SmithBucklin and Northwestern Mutual. She holds a BS in Financial Counseling & Planning from Purdue University and a Diversity & Inclusion certificate from Cornell University.
Raymond Zhang leads Heitman's client service and marketing activities across Greater China and Southeast Asia. Before Heitman, he was a Managing Director and Partner at China Orient Summit Capital, handling investment and global business development, and earlier worked on Greater China investment at Gaw Capital. He began his career at B+H Architects in Toronto, holds a BA in Architecture from the University of Toronto and an MS in Real Estate Development from Columbia University, and is a LEED Accredited Professional.
Sach Diwan serves as Chief Information Officer at Heitman, a private equity investment management firm. With over 25 years of experience across public and private markets, Diwan focuses on technology operations, digital product development, and data-driven initiatives. Diwan has been named a finalist for CIO of the Year by Orbie and SIM Chicago.
Thomas McCarthy is an Executive Vice President in Heitman's North American Private Real Estate Equity group and sits on the firm's North American Private Equity Investment Committee. He serves as Co-Portfolio Manager for the funds in the Heitman Value Series. He started his career at Ernst & Whinney (now Ernst & Young) and joined JMB Institutional Realty's portfolio management group in 1984, becoming a senior member of the group after JMB merged with Heitman in 1994.
Tobias Baumann is a Director and Head of European Sales in Heitman's Client Service & Marketing group, where he leads the firm's business development across Europe. He previously handled business development in the Nordic and German-speaking markets at Winton Group and worked at Lazard Asset Management in Frankfurt, having begun his career at Funds@Work AG. He holds a BA in International Management from FOM University of Applied Sciences and a master's in Finance and Management from the University of St Andrews, and is a Chartered Alternative Investment Analyst (CAIA).
Vicky Angelos is Executive Vice President and Global Head of Marketing at Heitman, overseeing the firm's global marketing strategy, brand, public relations, content, campaign strategy, digital platforms, and marketing operations. Before Heitman, she was Managing Director and Head of Digital Marketing at New York Life Investments, and previously spent 10 years as a Vice President at Goldman Sachs Asset Management leading Global Fixed Income and digital marketing. She also held senior marketing roles at Morgan Stanley Investment Management, Van Kampen Investments, and Accenture, and holds a BA in Journalism from Indiana University.
What they invest in
from 2 of 2 portfolio companiesConsumer ×2PropTech ×2
HQs:United States×2
Investments · 2 tracked
founders shown can be your intro pathCampus Advantage provides investment management, property management, and consulting services for student housing and multifamily residential properties across the United States.
ConsumerPropTechAustin, US
Michael J. Peter(President of Managing Member of General Partner)Michael Orsak(Senior Vice President of Managing Member of General Partner)Campus Advantage
Fitzhugh Urban Flats is a residential apartment community near Downtown Dallas offering studio, one-, and two-bedroom rental units with amenities such as a swimming pool, fitness center, and clubhouse.
ConsumerPropTechDallas, US
Co-investorsAbacus Capital Group
Fund performance · per public LP disclosures · 4
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Heitman Asia-Pacific Property InvestorsLPs: Los Angeles County Employees Retirement Association | 2018 | — | -3.7% | 0.86x | 0.41x |
| Heitman Core Real Estate Debt Income TrustLPs: Michigan Municipal Employees' Retirement System, New York City Board of Education Retirement System, Hawaii Employees' Retirement System +1 more | 2018 | — | — | 3.00x | — |
| HEITMAN CREDITLPs: Michigan Municipal Employees' Retirement System, New York City Board of Education Retirement System, Hawaii Employees' Retirement System | 2017 | — | — | 0.84x | — |
| Heitman RE TrustLPs: Teachers' Retirement System of Oklahoma | — | — | 6.9% | 1.81x | 0.57x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What sectors does Heitman focus on?
- Heitman focuses on PropTech.
- Where is Heitman located?
- Heitman is headquartered in Chicago, US.
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