Palatium recruits Citigroup team for mezzanine, preferred equity funds

Private equity real estate investor Palatium has recruited a specialist mezzanine and preferred equity team from Citigroup to managed planned specialist funds in the area. Keith Davidson, formerly a director with Citigroup's London real estate debt group, and James Tarry, formerly a vice president in that same group, are joining Palatium following its creation through the management buyout of Eurohypo Asset Management in April 2008. Both Davidson and Tarry were with Eurohypo's real estate investment division before their stints at Citigroup.

'We are confident that Palatium will provide an enduring platform to deliver returns from mezzanine and preferred equity thanks not only to the short-term dislocations in today's market, but also to the longer-term structural changes in the banking environment,' said Davidson, who is now managing director of Palatium Investment Management.