Cerberus Realigns $8B Global Real Estate Platform

Apr 27 2017 | 10:29pm ET

Cerberus Capital Management has realigned its real estate platform by combining its domestic and international capabilities to help facilitate cross-border and cross-asset class cooperation.

The step reflects the private investment manager’s global footprint and diverse investment strategy, Cerberus said in a statement. 

As a result of the realignment, Lee Millstein, currently Cerberus' Head of European and Asian Distressed/Real Estate, has been named Global Head of Real Estate, while Ronald Rawald, Head of European Real Estate Advisory, will move from London to New York and assume the role of Head of International Real Estate. 

Daniel Dejanovic will assume the role of Head of European Real Estate from Amsterdam, and Ronald Kravit and Thomas Wagner, co-heads of the company’s North American Real Estate unit, will continue to lead their team based out of New York, Cerberus said. 

The move comes a few months after Cerberus closed its fourth global real estate opportunity fund in January, raising $1.8 billion for Cerberus Institutional Real Estate Partners IV. The company now has more than $8 billion available for real estate-related investments.

"This realignment facilitates our ability to continue our excellent track record of investing in a diverse range of global assets and commitment to remain nimble and efficient stewards of our investors' capital," said Mark Neporent, COO and GC of Cerberus, in the statement. 

New York-based Cerberus Capital Management was co-founded by Steve Feinberg and William Richter in 1992. The company has become one of the world's leading private investment firms, with more than $30 billion under management invested across three complementary strategies: global credit opportunities (which includes non-performing loans, corporate credit & distressed debt, mortgage securities & assets, and direct lending); private equity; and real estate. 

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