Tom Wagner has joined Blackacre Institutional Capital Management as a managing director focused on sourcing deals across the spectrum of commercial real estate.
Wagner comes to the real estate arm of Cerberus Capital Management from a post as a managing director at GE Real Estate, where he most recently oversaw direct equity investments. He previously directed business development in North America and led GE’s acquisitions of Arden Realty. Wagner also managed the integration of the acquisitions of Security Capital and Heller.
The firm tapped “seasoned veteran” Wagner thanks to his two decades of experience leading direct equity investments and structuring large real estate transactions, according to a statement from Blackacre, which is led by managing principal Ron Kravit.
New York-based hedge fund Cerberus Capital Management has $16.5 billion (€12.8 billion) under management. Through Blackacre, the firm has often found itself leading the charge among hedge funds entering the world of private equity real estate, including the landmark acquisitions of discount retailer Mervyns and grocery store chain Albertsons, among others.