"Smith will bolster our management team as we grow our institutional relationships and tap into the dislocation in New York office." - Greg Kraut
NEW YORK (PRWEB) February 07, 2021
Indicating its confidence in the city’s rebirth—and underscoring its plans to invest in the Big Apple—KPG Funds has hired a chief financial officer for the first time, and tapped veteran CFO Stephen Smith for the role. He brings more than 30 years of finance, accounting and operational experience to the growing real estate firm.
In his new role, Smith will manage KPG’s financial strategy and treasury functions. He will report to Greg Kraut, Chief Executive Officer. The new hire and position by the office focused real estate firm—which specializes in value-add acquisitions and development—was made in order to bulk up KPG’s finance, accounting and investment management team.
Formerly a CFO at several institutional private equity firms, including Iron Point Partners and Westbrook Partners, Smith is part of a KPG initiative to bulk-up its investment management team. KPG expects to do many deals in 2021 as it is fully confident that the city will bounce back strong—and soon—from the losses it suffered during the Coronavirus pandemic.
“Stephen will strengthen our executive team, and we are fortunate to bring on someone with over 30 years of real estate experience and who has been a true leader in the institutional real estate community,” said Kraut.
Smith will collaborate with several leaders at the firm to apply his expertise in institutional finance and accounting. “I was attracted to the firm’s unique approach to investing in New York City real estate and I look forward to working with such an impressive and talented group of professionals,” he commented.
Added Rod Kritsberg, KPG’s Chief Investment Officer, “I’m convinced that Stephen is going to make a valuable and positive impact on our company to help guide it through this accelerated growth period to further maturity. His background is a perfect fit to deliver the best-in-class institutional experience that our investors have been accustomed to receiving. In a short time, he has already been a valued and trusted partner.”