Clairvue Capital Partners Finishes Investing Clairvue Capital Partners I and Announces New Hire and Promotion

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Need for recapitalizations of real estate vehicles drives firm’s growth; more hires planned.

Clairvue Capital Partners

Clairvue Capital Partners

We are seeing a growing need for liquidity within commercial real estate funds and investment vehicles.

Clairvue Capital Partners announced today that it completed investing Clairvue Capital Partners Fund I (“Clairvue I”), a $200 million fund launched in April, 2010. According to Jeff Giller, Managing Partner and Chief Investment Officer, “The preponderance of Clairvue I’s capital was invested in real estate vehicle recapitalizations where the proceeds advanced by Clairvue were used to help resolve debt maturity issues and other capital needs. The seven investments in Clairvue I’s portfolio create broad diversification with exposure to assets located throughout the United States and Europe, to office, retail, industrial, hotel and multi-family property types, to vehicles with vintage years from 2004 through 2008, and to various vehicle risk-return categories including opportunity funds, value-added funds, debt funds, mezzanine funds and real estate operating platforms.”

As Clairvue continues its trajectory of growth, the firm also announced that it promoted John Waters, based in San Francisco, to Vice President, and hired Akash Sharma as an Associate based in New York. Prior to joining Clairvue, Mr. Waters was an Acquisitions Associate at Starwood Capital Group, where he participated in the closing of over $1 billion of investments. Prior to Starwood, Mr. Waters was with Banc of America Securities, LLC in the Real Estate Investment Banking Group. “John has made a big contribution to our team and was an important part of executing our investments in Clairvue I,” said Brendan MacDonald, a Clairvue Partner who manages the acquisitions team.

In his role as Acquisitions Associate, Mr. Sharma will support the underwriting and execution of Clairvue’s investment opportunities. He joins Josh Cleveland, a Partner, and Jeffrey Granoff, a Principal, in Clairvue’s New York office. Prior to joining Clairvue, Sharma was an Investments Associate at CIM Group, a real estate and infrastructure investment firm specializing in urban development, where he was responsible for completing over $500 million in stabilized and opportunistic real estate investments and financings. In addition, Mr. Sharma had asset management responsibility for over a million square-feet of office, retail and multi-family space. Mr. Sharma is a graduate of the University of California, Berkeley, where he holds a B.A. degree in Economics.

“Akash joins our team of professionals at an exciting time,” said Mr. MacDonald. “We are seeing a growing need for liquidity within commercial real estate funds and investment vehicles. Debt maturities, slow economic growth and new financial regulations are each contributing to a growing need for recapitalizations and secondary sales of real estate funds and investment vehicles. Akash’s experience underwriting and managing direct property investments will be exceptionally useful as we look to identify and unlock value in real estate investment vehicles.”

Clairvue anticipates making additional hires in both its San Francisco and New York offices over the coming year.

About Clairvue Capital Partners

Clairvue Capital Partners was formed to provide liquidity or related solutions to institutional investors by recapitalizing or acquiring non-controlling interests in real estate private equity funds, joint ventures, operating companies, institutionally managed property portfolios, and other types of real estate platforms. With offices in San Francisco and New York City, Clairvue invests globally. Clairvue recently completed investing Clairvue Capital Partners I, an investment partnership with capital provided by Goldman Sachs Asset Management’s Private Equity Group.

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Rosalia Scampoli
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