Firm Principals

Christian A. Lange

President & Co-Founder

President and co-founder of European Investors in 1983,  Christian is Chief Investment Officer of EII’s direct real estate, real estate securities and general portfolio investment activities. He is also responsible for providing investment advisory services to European based families. Christian brings substantial investment experience to the firm with years of securities and real estate experience, which has included the acquisition, management and sale of more than $800 million of property. He has a global perspective of investments, markets, companies and investors. From 1976 to 1983, he was a Managing Director of Friedrich Flick Industrieverwaltung KgaA, Düsseldorf, with responsibilities for international securities portfolios, real estate investments and major direct industrial investments. Between 1968 and 1974, Christian served as Vice President of Goldman Sachs AG in Zurich, which he managed from inception in 1974 to 1976. Born in Germany, Christian earned an MBA from the Johann Wolfgang Goethe University, Frankfurt/Main, in 1967.

Richard J. Adler

Chief Investment Officer & Co-Founder

Managing Director, co-founded European Investors in 1983. Richard serves as investment strategist for the firm’s real estate securities, equity and fixed income activities. In the mid 1980’s Richard was jointly responsible for performing the initial due diligence on the investment opportunity of securitized real estate and spearheaded the firm’s entrance into real estate securities investment management. From 1973 to 1983, Richard was a Vice President of Goldman Sachs, & Co. where he acted as a liaison between the firm’s research department and foreign investors. Richard received his BA in Economics from Yale in 1968 and an MBA from Harvard Business School in 1973, where he was a Baker Scholar. He is the President of the EII Realty Securities Fund, the EII International Property Fund and the EII Global Real Estate Securities Fund. Richard is a former US Navy officer.

Richard Birnbaum, CFA

Portfolio Analytics

Vice President, joined European Investors in 2003. He is responsible for client services and portfolio analytics and has 15+ years of investment-related experience. From 2000 to 2002, Richard was a Vice President within Deutsche Bank’s Performance Measurement group where he managed the Bank’s relationship with the Independent Consultants Cooperative (ICC). He was responsible for client services and product development for the ICC’s peer-group comparison universe. Prior to this, Richard was a Vice President in Citibank’s Performance Measurement group where he directed a team of performance analysts and had the responsibility for the group’s largest client, a public plan with assets in excess of $80 billion. Earlier in his career, Richard worked for Muller Data Corp, a Thomson Financial Services subsidiary, where he ran the tax-exempt and taxable fixed-income evaluation departments. Richard received his BS in Industrial Engineering from Northwestern University in 1984. He is a member of AIMR and is a CFA Charterholder.

Eric Burt

Head Trader

Vice President, joined European Investors in 2002. Eric is head trader and he is responsible for trading on behalf of our equity and real estate securities portfolios. From 1996-2002 Eric worked as trader and investment associate at Glickenhaus & Company. Eric received his BAS degree in 1995 from Villanova University.

Robert D. Lange

Sales and Service, Europe

Managing Director, was with European Investors 1992-2000 and re-joined the firm in 2003. Robert is responsible for International Private Client and Institutional Marketing and Client Services. From 2000 to 2003, Robert was with Morgan Stanley, Private Wealth Management, London, where he built a team to advise family offices on global asset allocation and investment management alternatives. From 1992 to 2000, he was an Associate at European Investors working in US Equity Portfolio Management, Real Estate Finance and Client Services. Robert graduated from Boston University in 1992 with a BS in Finance and received his MBA from the Leonard Stern School of Business at New York in 1999.

J. Stuart Mackintosh

Direct Real Estate

Managing Director, joined European Investors in 1985. Stuart is responsible for the firm’s direct real estate and real estate corporate finance activities. Stuart has overseen the growth in EII's direct portfolio and pioneered the establishment of joint ventures with REITs and private real estate companies across property types. Stuart has 20 years real estate experience, including acquisition, financing, asset management, structuring joint ventures with various REITs and Private real estate companies. Stuart spent six years at Bank of Boston, financing foreign investors in the United States. He graduated cum laude from Middlebury College with a BA degree in Political Science, and received his MBA from New York University.

Kirsten L. McElroy

Sales and Service, US

Managing Director, joined European Investors in 2002. Kirsten is responsible for US Institutional Marketing and Client Servicing. For the prior fourteen years, Kirsten worked at J.P. Morgan in a number of the firm’s securities and financial services businesses. From 1996-2001 Kirsten was a Client Advisor on the Institutional Sales Team in the Asset Management Division. Her responsibilities included client relationship management and new business development. From 1992-1996 she was Product Development Manager for the firm’s Securities Lending business. Prior to that she was a Systems Group Manager in Global Custody. At the outset of her career, Kirsten spent a year as an assistant lobbyist with Footwear Industries of America and two years as a systems engineer at Electronic Data Systems. She received her BA in Economics in 1985 from the University of Washington, and an MBA in 1994 from The Wharton School at the University of Pennsylvania.

M. Catherine McRae, CFA

Portfolio Manager, US Equities

Managing Director, joined European Investors in 2002. Cathy, who has 30 years of investment experience, is portfolio manager, responsible for the firm’s US Equities portfolio. In 2001-2002 she was a partner of Ridgecrest Partners, a hedge fund with a value focus, and from 1998-2001 she managed two mutual funds for Guardian Life. In the thirteen year period between 1981 and 1994 Cathy was a securities analyst with Bear Stearns, Furman Selz, NatWest Securities and Drexel Burnham Lambert. From 1975-1981 she worked in the corporate finance department at Irving Trust Company. Cathy has a AB (magna cum laude) from Dartmouth College and did post graduate work at NYU Graduate School of Business. She is a CFA Charterholder.

Peter Nieuwland, CFA

Co-Portfolio Manager, European Real Estate Securities

Managing Director, joined European Investors in 2001. Peter is a senior analyst and assistant portfolio manager for the firm's international real estate securities portfolios. From 1996 to 2001, Peter was an analyst and portfolio manager for ABP Investments in Amsterdam. Peter's responsibilities included analyzing public and private U.S. and European real estate companies, disposing direct real estate holdings, and analyzing private placements in public real estate companies. Peter earner an MBA from the University of Maastricht. Peter is a CFA Charterholder.

Alfred C. Otero

Portfolio Manager, US REITs

Managing Director, joined European Investors in 1996. Al is responsible for the firm’s US REIT investment activities and is co-portfolio manager of all global REIT accounts. From 1992 to 1996 he was a Vice President for Mutual of America Capital Management Corp. where he was involved in the real estate and venture capital areas. His work in the real estate area included direct property investments as well as initiating a real estate securities investment program. From 1989 to 1991 he worked as a financial analyst for Chase Manhattan Bank. Al is a 1992 graduate of the University of Notre Dame with an MBA and a BBA in Finance (1989).

Scott B. Prizer

Direct Real Estate

Managing Director, joined European Investors in 1989. Scott is responsible for overseeing the firm’s direct real estate investments. From 1986 to 1988 Scott was a domestic and international financial institutions analyst for Bear Stearns, and from 1984 to 1986 he was responsible for evaluation and structuring LBO funding arrangements for Fidelcor Business Credit. In 1989 Scott received an MBA from New York University and in 1984 he received his BA in Finance from George Washington University. He is a licensed real estate broker in the State of New York.

James E. Rehlaender

Portfolio Manager, Global Real Estate Securities

Managing Director, joined European Investors in 2000. Jim is responsible for the firm’s international real estate investment activities and is co-portfolio manager for all global REIT accounts. Jim spent a total of twelve years at La Salle Partners where he developed and marketed their REIT investment activities and was intimately involved in many complex real estate project financing, workouts and investment advisory assignments. Prior to joining European Investors, Jim developed and founded Global Property Advisors with one of the largest German insurance companies. At the outset of his business career Jim was a partner in a venture capital firm and taught classes in real estate at Northwestern University. He has a BA from the College of William and Mary and an MBA from Northwestern University

Suang Eng Tsan

Co-Portfolio Manager, Asian Real Estate Securities

Co-Portfolio Manager Asia and Director or European Investors, Singapore Pte. Ltd, joined European Investors in June 2006. Suang Eng has nearly 20 years of research and property experience in Asia. She has been the top rated Singapore based property analyst in the Asia Money, Institutional Investor and GreenwichAssociates surveys. Prior to joining EII Suang Eng served as Research Director at Citigroup covering regional property companies in Singapore. From 1997 to 2001 she was a property analyst at ABN AMRO Securities and DBS Securities. Prior to her career as an investment analyst Suang Eng was a property executive at Pidemco Land and Urban Redevelopment Authority. Suang Eng received her MBA in 1993 and her BS in Estate Management in 1987 both from the University of Singapore.

Su Yen Tse