Harrison Street Launches Private Wealth Division, Renames Interval Fund
Harrison Street Asset Management has launched a dedicated private wealth division following the integration, rebranding, and expansion of its subsidiary, Versus Capital Advisors. The new platform, Harrison Street Private Wealth, will be based in Denver and led by partners Mark Quam, Bill Fuhs, and Casey Frazier.
HS Private Wealth will continue to deliver highly differentiated, alternative investment strategies to wealth managers, financial advisers, and high-net-worth investors while expanding access to Harrison Street’s global investment capabilities and alternatives.
“We are excited to launch our dedicated private wealth platform within Harrison Street,” said Christopher Merrill, co-founder and global chief executive officer of Harrison Street. “This integration builds on the strength and long-standing success of our partnership with Versus and allows us to accelerate our reach in the growing private wealth channel. As we celebrate 20 years of leadership in institutional alternative investments, we remain focused on expanding investor access to our strategies and capturing new growth opportunities, while continuing to complement our institutional platform.”
Mark Quam, co-founder of Versus and now, CEO of HS Private Wealth, added: “Harrison Street is a pioneer and recognized leader in alternative assets. We’re thrilled to be able to combine our capabilities and offer private wealth clients a broader suite of innovative, institutional-quality solutions with a proven record of delivering strong returns to investors.”
To support its expanded efforts, HS Private Wealth has bolstered its client service and distribution capabilities with the addition of the following seasoned professionals.
- Chip Saltz, formerly managing director and head of distribution at Starwood Capital Group, will serve as global head of distribution services.
- Scott Toohig, previously with Lazard Asset Management, joins as director of advisory services, northeast region.
- Adam Evans, also formerly of Lazard Asset Management, will be director of advisory services, southwest region.
Fund Updates
Further, Versus Capital Real Assets Fund LLC, a non-diversified continuously offered closed-end interval fund – formally advised by Versus Capital Advisors LLC, now HS Private Wealth – has been renamed to Harrison Street Real Estate Fund LLC.
The net asset value of its common shares, formerly Class I shares, was $24.29 as of March 31, 2025, a 2.8% decrease from its year-over-year $24.99 NAV. The fund’s total return based on NAV and the same time range was 1.22%, an improvement from its -8.06% at the end of March 2024.
Security Capital Research & Management Incorporated is the independent sub-adviser to the fund. The portfolio management team is comprised of Anthony R. Manno Jr., Kevin W. Bedell, and Nathan J. Gear.
Harrison Street Asset Management is a leading global alternative investment management firm with $100 billion in assets under management through highly differentiated assets across infrastructure, real estate, and credit strategies. Headquartered in Chicago and Toronto with offices across North America, Europe, and Asia, the firm offers solutions across a variety of closed-end, open-end and specialized vehicles on behalf of 900 institutional investors and over 10,000 private wealth investors.
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