{"id":536214,"date":"2021-09-09T08:03:25","date_gmt":"2021-09-09T12:03:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/the-rmr-group-appoints-andrew-fay-senior-vice-president\/"},"modified":"2021-09-09T08:03:25","modified_gmt":"2021-09-09T12:03:25","slug":"the-rmr-group-appoints-andrew-fay-senior-vice-president","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-rmr-group-appoints-andrew-fay-senior-vice-president\/","title":{"rendered":"The RMR Group Appoints Andrew Fay Senior Vice President"},"content":{"rendered":"

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The RMR Group Appoints Andrew Fay Senior Vice President<\/b><\/p>\n

$32 Billion Alternative Asset Manager Enhances Capability to <\/i>Source Private Capital for Investments in Core Real Estate<\/i><\/p>\n

Financial Industry Veteran Brings 30 Years of Experience to RMR<\/i><\/p>\n

NEWTON, Mass.–(BUSINESS WIRE<\/a>)–The RMR Group Inc. (Nasdaq: RMR)<\/a> today announced the appointment of Andrew Fay as Senior Vice President. In this new role, Mr. Fay will be responsible for establishing and developing a capital markets team that will focus on sourcing capital from private investment partners including ultra-high net worth investors, family offices, targeted registered investment advisors, foundations and endowments.\n<\/p>\n

Adam Portnoy, President & Chief Executive Officer<\/a>, made the following statement:\n<\/p>\n

\n\u201cWe welcome Andy to RMR\u2019s senior leadership team and look forward to utilizing his multi-decade experience in the capital markets and wealth management industries and his ability to build relationships with ultra-high net worth investors, family offices and institutions. We believe that RMR\u2019s strong historical track record and expertise in managing a diverse, nationwide portfolio of core real estate assets will appeal to new audiences and will complement the traction we have already established with investments from sovereign wealth funds.\u201d\n<\/p>\n

\nThe creation of this new role builds on RMR\u2019s effort to expand its capital sources into private markets and so far has resulted in nearly $1 billion of new investment, primarily from sovereign wealth funds. This capital includes investments in, most notably, the $680 million joint venture RMR client Industrial Logistics Properties Trust (Nasdaq: ILPT) entered into for 12 mainland U.S. industrial assets<\/a>.\n<\/p>\n

\nMr. Fay has more than 30 years of experience in financial services and expertise in both the institutional and private client marketplace. He most recently served as Head of Family Office Services for Fidelity Investments, where he played a central role in creating the company\u2019s first ultra-high net worth and family office business. Previously, he held roles at Bank Boston and FleetBoston Securities Corp. as well as Manufacturers Hanover Trust. Mr. Fay is an advisory board member of the UNWH Institute. He earned his Bachelor\u2019s degree in Government and French with a minor in Economics from Bowdoin College and is a certified investment management analyst.\n<\/p>\n

About The RMR Group<\/b><\/p>\n

\nThe RMR Group Inc. (Nasdaq: RMR) is a holding company and substantially all of its business is conducted by its majority owned subsidiary, The RMR Group LLC, or RMR. RMR is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR\u2019s vertical integration is supported by its more than 600 real estate professionals in over 30 offices nationwide who manage over $32 billion in assets under management and leverage 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com<\/a>.\n<\/p>\n

WARNING REGARDING FORWARD LOOKING STATEMENTS<\/b><\/p>\n

\nThis press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward looking statements are based upon RMR\u2019s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond RMR\u2019s control. For example:\n<\/p>\n