Carlyle poaches head of international RE from TPG

The Washington D.C.-based firm has bolstered its real estate team by creating a new role for Adam Metz, the former senior advisor to TPG’s real estate group.

The Carlyle Group, the Washington D.C.-based global alternative asset manager, has added one more to its already large real estate team with the hire of Adam Metz, the former senior advisor to global private equity giant TPG’s real estate team, according to a Carlyle statement.

Metz will fill a newly created role at Carlyle, with the title of managing director and head of international real estate. He will be working with all of Carlyle’s non-US real estate platforms, but will be based in the firm’s Washington, D.C. office. Metz will take up the role starting in October. Robert Stuckey, managing director, remains head of Carlyle’s US real estate division.

Carlyle chairman Daniel A. D’Aniello said: “We are excited to welcome Adam to the team. Real estate is one of the largest asset classes in the world and Adam will lead our efforts to expand the depth and breadth of Carlyle’s international footprint.”

Prior to his role at TPG, Metz held senior leadership positions at several REITS, including General Growth Properties, and was a co-founding member at wealth management firm Polaris Capital. Altogether, Metz brings 30 years of real estate experience to Carlyle. “This is a remarkable opportunity to further develop and grow Carlyle’s international real estate platform,” Metz said in the statement. “I look forward to working with the teams to develop new products that capture market opportunities and satisfy investor demand.”

Altogether, Carlyle manages $12.3 billion in ten real estate funds and related investment vehicles that invest in a range of real estate assets in Asia, Europe and the United States, and has $180 billion of assets under management across 118 funds and 81 fund of funds vehicles. Most recently, the firm has launched two new real estate vehicles: the Carlyle Asia Real Estate Partners (CAREP) III targeting $750 million, and the US real estate fund Carlyle Realty Partners (CRP) VII, targeting up to $4 billion in commitments, PERE reported earlier.