Realignment Reflects Global Footprint and Diverse Investment Strategy
NEW YORK, April 27, 2017 /PRNewswire/ — Cerberus Capital Management, L.P. (“Cerberus”) today announced that it has realigned its real estate platform by combining its domestic and international capabilities to help facilitate cross-border and cross-asset class cooperation.
As a result of the realignment, Lee S. Millstein, currently Cerberus’ Head of European and Asian Distressed/Real Estate, has been named Global Head of Real Estate. Ronald A. 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 move from Cerberus’ London office to its new office in Amsterdam and assume the role of Head of European Real Estate. Ronald J. Kravit and Thomas E. Wagner, Co-Heads of North American Real Estate, will continue to lead their team based out of New York. Each of these leaders will continue to work together in connection with all real estate-related investments, regardless of geography, jurisdiction, or asset sub-class.
“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 A. Neporent, Chief Operating Officer and General Counsel, Cerberus. “Cerberus has built a world-class real estate organization that is well-positioned to successfully and profitably deploy our capital more broadly across the spectrum of global real estate opportunities. We are fortunate to have the talent, platform, and investor mandate to implement this strategy.”
Today’s realignment follows Cerberus’ January announcement that the firm’s real estate team closed its $1.8 billion fourth global opportunistic fund, Cerberus Institutional Real Estate Partners IV. Cerberus now has assets under management and commitments in excess of $8 billion available to be directed towards real estate related investments.
About Cerberus Capital Management, L.P.
Established in 1992, Cerberus Capital Management, L.P. is one of the world’s leading private investment firms. Cerberus has more than US $30 billion under management invested in 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. From its headquarters in New York City and network of affiliate and advisory offices in the U.S., Europe and Asia, Cerberus has the on-the-ground presence to invest in multiple asset classes globally.