David Bonderman, who runs the TPG Capital has hired Greta Guggenheim from Ladder Capital Corp to supervise a newly constructed real estate debt division. According to a previous report by bloomberg.com, "Greta Guggenheim, which is the co-founder and former chief investment officer at Ladder Capital Corp, will be based in New York."
She was selected as the chief executive officer of TPG Real Estate Finance Trust in January 2016. As reported by alternatives.com, "The TPG's newly formed real estate debt unit was created just this year when the firm bought $2.5 billion in high-yield real estate loans from Deutsche Bank AG." Also, bloomberg.com reported that the company which made it possible for TPG to be established was Fort Worth. A company based in Texas. A 25 percent of the stake loan package was held in reserve for the German bank. This was comprised of 60 apartment complexes, office buildings, condo, hotel, and industrial mortgages across the US.
There has been a series of alternative investment firms which are building their real estate businesses as banks cut back. A stricter and firmer regulations on capital requirements are being executed. Moreover, the implementation of 2010 Dodd-Frank Act worsen the case as it restricts the bank's ability to trade with their own money, as stated in a report by bloomberg.com. The TPG Group was founded in 1992, and according to a previous report by alternatives.com, "It is the one of the largest and leading private equity firms in the world." The TPG Group manages a $74 billion assets, and $6 billion asset is being currently managed by the TPG Real Estates Partners. Thomas Harney, the head of merchant banking and capital markets of the Ladder Corp had expressed their grievance on Guggenheim's leaving. However, the firm has a strong management ability which will drive them to a continued success as further noted by alternatives.com.
