A newly formed investment management firm, initially focused on commercial real estate credit opportunities across North America, has secured up to $1.8bn (€1.55bn) from anchor partners including BTG Pactual, Fortress Investment Group funds and Koch Real Estate Investments.
Derby Lane Partners, founded by Adam Piekarski, has been launched with the support of the strategic investors, which also include Liberty Mutual Investments, Silver Creek Capital Management and asset manager Stable.
Derby Lane will provide flexible, creative capital solutions to the market across asset classes, with an initial focus on the investment opportunity in commercial real estate credit in North America.
Piekarski serves as Derby Lane’s CEO and CIO, having previously co-founded and led the real estate credit investment team at BDT & MSD Partners. He is joined by senior members, including Kory Klebanoff as partner, who was previously co-head of East Coast originations at ACORE Capital; and Urian Yap as partner and CFO, who was previously CFO of Madison Realty Capital.
Matt Doneth, who has joined the investment team as a managing director, previously worked at Apollo Global Management. His colleague on the investment team is managing director Heecheol Pak, who joins from Blackstone.
Piekarski said: “Today’s market presents an attractive opportunity to invest in commercial real estate debt. We have assembled a seasoned team, paired with flexible capital and a differentiated approach to the market, that positions our firm to play offense while others continue to play defense.
“As we strive to drive value and sustainable performance across market cycles, we will always remain focused on our disciplined credit process and proactive asset management with our partners.”
Erik Serrano Berntsen, CEO and founder of Stable, said: “At Stable, our business is focused on partnering with investment firms to help them build enduring platforms.
“We manage capital on behalf of leading institutions, including US public pension plans, and seek to back founders who demonstrate investment discipline and a long-term approach to firm building. Adam has built and led investment businesses with a clear focus on execution, and we are pleased to participate in the launch of Derby Lane.”
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