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SOURCE The Pavonis Group
HOUSTON, July 8, 2014 /PRNewswire/ -- The Pavonis Group, a partnership of some of the real estate industry's top technology and professional services leaders, has launched Pavonis Capital Partners' first fund, Pavonis Technology Fund I, LP.
In conjunction with this launch, the Pavonis Group named Demetrios Louziotis, Jr., one of its partners, as the CEO of Pavonis Capital Partners, which will be the general partner for this and all future funds.
To date, Pavonis Capital Partners has raised nearly $7 million for various real estate and technology investments, including the first round of funding for RealNex, the recently-formed real estate technology company. Pavonis Capital Partners' technology fund will target acquisitions of real estate technology companies and investments in companies with new, scalable, disruptive solutions it can bring into real estate, such as the investments Pavonis made in Storyvine and ProHatch.
The fund will consider opportunities to invest in both newly-created and more mature organizations. The objective is to add value by leveraging the Pavonis Group's capabilities and the operating platform it is creating. The operating team of the fund unites a broad spectrum of global experience, including those with institutional ownership and fund management experience, and successfully operating and exiting private equity funded companies in the technology space.
"The launch of our fund platform is the next planned step towards our objective of helping to transform the real estate industry by improving its liquidity and efficiency. The Pavonis Technology Fund will help fuel the growth of RealNex and deliver the integrated, holistic solution the industry is looking for," said Mark Kingston, Managing Partner, The Pavonis Group. "We are excited to have Demetrios as the fund's CEO. His invaluable experience and wide-ranging perspective make him the ideal candidate to oversee our fund business."
Louziotis, an industry veteran with over 30 years of experience in real estate, finance and technology, has been with the Pavonis Group since 2013 as a Founding Partner, serving as Chief Operating Officer and Head of Strategy. Prior to joining Pavonis, he was employed with Argus Software from 2009 to 2013 as Senior Vice President of the Global Real Estate Solutions Group. He was responsible for strategy, partner relationships and the firm's key account program. He had a key role in the 2011 Altus Group's acquisition of Argus, which resulted in private equity investors realizing a return of more than two times the original investment despite the economic climate. Before his tenure with Argus, Louziotis was a Director with Credit Suisse in New York and Tokyo. Here, he founded the firm's International Real Estate and Private Equity Pricing Groups and helped grow the bank's real estate finance business in the Asia-Pac region.
"A core tenet of Pavonis Capital Partners is that Pavonis Group partners lead with our own capital. That, and the fact that the success of this business will further the support we can provide to our charitable organization 100 Squared, makes it all the more humbling to be asked by my partners to lead the creation of our fund platform," said Louziotis. "We already have the foundation of a tremendous investor base and a fantastic pipeline of opportunities. We have also had significant outreach by both potential investors and acquisition candidates who see the opportunities and want to pursue them with us."
About The Pavonis Group
The Pavonis Group was formed to transform the commercial real estate industry by leveraging the partners' extensive collective expertise and experience in the global real estate, capital markets and technology industries to deliver solutions that will improve the efficiency and transparency of the industry. Headquartered in Houston, TX, Pavonis Group includes 11 partners who are based around the world. The partners are a Who's Who of industry leaders, including former executives from Argus Software, IBM, BMC, ING Global Real Estate, Credit Suisse, NAI Global and the former head of the real estate department at Indiana University. The partnership has also allocated a full partnership interest to 100 Squared, a nonprofit organization dedicated to improving the lives of orphans across the globe.
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