Paul Mouchakkaa, who served as head of real estate at Alberta Investment Management Corp. (AIMCo) managing its $30-billion global real estate portfolio, has taken a senior executive position with Dallas-based Crow Holdings.

Mouchakkaa has joined its investment management business, Crow Holdings Capital (CHC), as a senior managing director. He will be based in Dallas.

He brings nearly 25 years of institutional real estate experience to CHC. In the new role, Mouchakkaa will be responsible for build-to-core and core-plus investment programs, as well as establishing new investment strategies while leveraging his decades of investment management experience to enhance CHC’s Investment Committee.

In his role as head of real estate at AIMCo, he oversaw a portfolio that invested in a range of real estate strategies, from core to opportunistic. Mouchakkaa had been hired into that position in March, 2022.

“Paul brings a valuable, differentiated experience from a career spent at both best-in-class global general and limited partner investment platforms that will help Crow Holdings Capital to continue to evolve and enhance its investment approach,” Bob McClain, chief executive officer of CHC, said in the announcement.

“We enthusiastically welcome Paul to the investment business and look forward to the wide-ranging real estate experience and alternative insights he brings to our talented team,” Michael Levy, CEO of Crow Holdings, added. “Paul will be a valuable addition as we seek to provide new investment solutions to our growing base of global investment partners.”

Mouchakkaa's career in CRE, investment

Prior to AIMCo, Mouchakkaa was managing partner, head of Canada with BentallGreenOak (BGO), leading the Canadian investment management team and its $25-billion diversified real estate portfolio on behalf of 140 Canadian and global investors. 

Prior to BGO, Mouchakkaa served as managing investment director and head of real assets for the California Public Employees’ Retirement System (CalPERS), with responsibility and authority for CalPERS’ US$50-billion real asset portfolio that included top-tier commercial real estate assets and US$7 billion in infrastructure assets across the U.S., Europe, Asia and the Americas. 

Mouchakkaa also was previously managing director and global head of real estate research and strategy for Morgan Stanley Real Estate Investing, and served as a managing director at Pension Consulting Alliance, among other positions.

“It’s truly an honor to join a storied firm like Crow Holdings, whose reputation as an industry leader has been earned over decades,” Mouchakkaa said. “CHC’s remarkable track record of success is well-understood across the industry. 

“When coupled with the on-the-ground presence of its affiliate Crow Holdings Development, one of the largest developers in the U.S. with 18 offices in key markets, CHC provides unique capabilities and opportunities for global investment partners. I look forward to what the future holds.”

Mouchakkaa is an honors economics graduate of Carleton University in Ottawa and holds an MBA majoring in finance from the University of Oregon.

Crow Holdings Capital is currently in the placement period for the US$3.7 billion in investable equity raised for Crow Holdings Realty Partners X, L.P., the 10th vintage of its flagship value-add fund series.

With 18 offices across the U.S., Crow Holdings has US$32 billion in assets under management, one of the largest multifamily and industrial development platforms in the U.S.