Clime IM hires private credit and property manager
Clime Investment Management has announced its latest appointment to strengthen its private credit and property capabilities.
The ASX-listed funds management and private wealth business has appointed Tim Jones as its property and credit manager.
Reporting to chief investment officer Will Riggall, Jones will liaise directly with existing Clime clients, external partners, operations and compliance teams to bolster its private credit and property division ahead of planned product enhancements.
The incoming manager will be splitting his time between Perth and Sydney, the firm stated.
He holds more than three decades of experience working across property funds management, property operations, and investment and development markets throughout Australia.
Jones is currently the principal of Wholesale Securities, an AFSL and fund manager in the commercial real estate sector.
His previous experience includes serving in senior positions at Macquarie Group, Cape Bouvard Investments, Goldmate Property Group, and PrivateInvest.
“Tim’s appointment, together with other recent announcements, represents a stepped change in Clime’s capabilities and is in line with this quarter’s focus on product enhancement and alignment,” commented Michael Baragwanath, Clime’s managing director.
“His extensive experience and leadership in property funds management will be instrumental as we continue to invest in our core business and deliver a differentiated, quality service our clients demand.”
Other recent hires at the company include Matt Deane as operations manager for managed funds and market assets, Anshul Thapar as operations manager for off-market and direct assets, and Adam Sferruzzi as portfolio manager on its Clime International Fund.
Last month, Clime reported a return to operating profit of $406,000 for the first half of FY25. It also said it has signed two new strategic partnerships that are expected to deliver $130 million in funds under management and $750,000 in annual revenue over the next 12 months.
The firm had previously flagged the return to profit in its quarterly results back in January, having reported an operating loss of $1.6 million in the same period a year ago. For its full-year FY24 results, the firm reported a $3.8 million loss.
Speaking to Money Management prior to the results, Baragwanath noted the completion of Clime’s cost-out process and said it is now looking to grow.
“We want to be a bigger, diverse offering, to pay a consistent dividend and have an office in every capital city. We have to get back to what Clime does well,” he remarked.
“I see clear skies ahead for Clime.”
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Jasmine Siljic
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