Brookwood to expand fundraising platform

The Beverly, Massachusetts-based private equity real estate firm appoints a former hedge fund executive to help drive its institutional sales and capital-raising arm, Brookwood Securities Partners.

Brookwood Financial Partners is seeking to expand its capital raising operations appointing former hedge fund executive Jayne Rice as managing director.

Rice will help grow the firm’s broker/dealer affiliate, Brookwood Securities Partners, the firm’s chairman and chief executive officer Thomas Trkla said in a statement.

The Beverly, Massachusetts-based private equity firm, which invests primarily in real estate but also in corporate securities, sold most of its commercial real estate assets, around $650 million (€463 million), before the height of the market last year. However, Trkla said the firm was looking to raise “equity from family offices and institutional investors” to take advantage of current market conditions.

The firm is targeting finished residential lots, and in July closed its first deal as part of the Brookwood Value Partners fund for 214 lots at The Grove, in Southwest Florida. It has contracted to buy another 140 lots from the lot homebuilder DR Horton.

At the time, Thomas Brown, Brookwood’s acquisitions director, said the firm would wait out the current market downturn and sell the lots “once the housing market turns.”

According to today's statement, Rice was previously working for a Boston-based hedge fund focused on capital development and investor relations. For the past decade she has also worked as North America director at advisory company Marsh & McLennan and as chairwoman of Solution Development Group.