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AllianceBernstein Enters Commercial Arena

NEW YORK CITY-Jay Nydick and Brahm Cramer will co-head the investment manager's newly established commercial real estate unit.

By Paul Bubny | Updated on September 15, 2009

NEW YORK CITY-Industry veterans Jay Nydick and Brahm Cramer will lead AllianceBernstein’s efforts to establish a presence in commercial real estate, the investment manager announced late Monday afternoon. A spokesman for AllianceBernstein tells GlobeSt.com the newly established investment unit will mark the company’s initial entry into direct real estate.

In a release, AllianceBernstein says it expects to have an opportunistic, US-focused real estate offering for its high-net-worth and institutional clients by mid-2010, followed by both core and global offerings. These services are intended to complement the firm’s research and investment platforms in fixed-income and growth and value equities, including existing investment research on securitized real-estate debt and equity, the release states.

“Our offering will be opportunistic in many real estate markets as the economic downturn has undermined valuations for a large number of properties,” says the spokesman.

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