Black Creek hires Morgan Stanley veteran

The Denver, Colorado-based private equity real estate firm has appointed a new president of its US business.

Black Creek Group, a Denver, Colorado-based private equity real estate firm, has hired Raj Dhanda (pictured) as president of its US-based platform.

Dhanda will oversee all distribution, marketing, product development, operations and legal functions at the firm… in the newly created role.

“In today’s rapidly changing investment environment, clients are seeking access to institutional-quality investment options – notably commercial real estate,” said Dhanda in a statement. “I look forward to helping Black Creek expand its product offerings and grow capital raising and distribution platforms.”

Dhanda previously worked more than 26 years at Morgan Stanley, where he held senior roles within the investment bank’s institutional and retail businesses, while serving on the firm’s management and risk committee. Most recently, he was head of investment products and services in wealth management and was in charge of all products distributed by Morgan Stanley’s financial advisors.

“We are confident that his expertise will help us accelerate the growth and distribution of our real estate platform.”,” said John Blumberg, a managing principal at Black Creek.

Black Creek is focused on creating and managing real estate platform companies. Current Black Creek companies includes US real estate investment trusts Industrial Property Trust and Dividend Capital Diversified Property Fund, as well as Mexico-focused private equity platforms MIRA, targeting urban residential and mixed-use projects, and Gran Ciudad, a multifamily rental development and property management platform.

The firm currently manages approximately $6 billion of assets in the US and Mexico, including $5 billion in the former. Along with Blumberg, Black Creek is also led by Jim Mulvihill and Evan Zucker.