Metropolitan Real Estate Equity Management, the private real estate investment manager of The Carlyle Group’s Solutions platform, has hired former Partners Group executives Sarah Schwarzschild and David Lei in order to “enhance the firm’s secondary investment efforts,” according to a release from the firm.
Schwarzschild will serve as vice president and as a member of the investment committee, while Lei will serve as an associate. Both will be based in New York.
“We are delighted to announce that Sarah and David have joined the Metropolitan team to help us expand our strategic initiative in the secondary segment of the real estate private equity universe and to capitalize on currently attractive market conditions,” said Metropolitan president and co-chief investment officer David Sherman in a statement.
Prior to joining Metropolitan, Schwarzschild and Lei were responsible for the sourcing, evaluation and execution of real estate secondary investments at Zug, Switzerland-based Partners Group. Schwarzschild led a US team of four investment professionals, including Lei.
Before Partners Group, Schwarzschild served as assistant vice president in the acquisitions team for the Global Opportunity Funds group at RREEF (now Deutsche Asset and Wealth Management). She began her career at financial advisory firm Rothschild as an investment banking analyst in the mergers and acquisitions and private placement groups.
Lei began his career in the Investment Banking Analyst Training Program at Credit Suisse, as a real assets private equity investment professional in the Customized Fund Investment Group, the bank’s former private equity fund of funds business.
Through its acquisition of Metropolitan, which closed in November, Carlyle gained access to the real estate fund of funds business with Metropolitan’s $2.6 billion of assets under management and the management rights to all of Metropolitan’s vehicles, including nine funds in its US-focused Metropolitan Real Estate Partners (MREP) series and five funds in its MREP International series.