Private equity real estate firm Palatium Investment Management, which was created through the management buyout of Eurohypo Asset Management in April, has hired mezzanine and preferred equ
Private equity real estate firm Palatium Investment Management, which was created through the management buyout of Eurohypo Asset Management in April, has hired mezzanine and preferred equity specialists Keith Davidson and James Tarry from Citigroup to manage a planned fund.
Davidson, a former director with Citigroup’s London real estate debt group, was a director in Eurohypo’s real estate investment banking division between 2003 and 2007, having previously worked in real estate structured finance teams at Barclays and then Deutsche Bank.
Tarry was a vice-president in Citigroup’s real estate debt group, having held the same position in the Eurohypo real estate investment banking from 2004 to 2007. After beginning his career as a chartered accountant with KPMG, Tarry’s previous experience includes structured asset finance at Deutsche Bank.
Palatium says it is continuing to recruit an experienced team in order to launch a series of highly targeted funds. ‘Each appointment demonstrates our commitment to recruiting a highly experienced, proven team to pursue the opportunities that exist in real estate and real estate debt,’ says joint chief executive Neil Lawson-May.
‘Having worked with Keith and James in the past, I am confident that our planned mezzanine and preferred equity funds could not be in better hands. Not only do they both know these markets intimately, but they also understand how our clients like to invest.’
Davidson says: ‘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.’
Tarry adds: ‘Management’s depth of experience and long track record position Palatium to lead the market in real estate mezzanine and preferred equity investment. We are already matching investor risk-reward requirements with opportunities and believe that there exists a strong pipeline of demand for our product.’
