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Ex-JP Morgan investment bankers join Houlihan Lokey

Global investment bank Houlihan Lokey has added four former JP Morgan real estate investment banking professionals to its business in a bid to expand the firm’s real estate practice. The JP Morgan team helped orchestrate the sale of 650 Madison Avenue to Carlyle and Ashkenazy.

Houlihan Lokey, the Los Angeles, California-based investment banking firm, has hired former JP Morgan senior investment banking officers, Gary Gordon, John Kenyon, Patrick Gillan and Harshad Mehta, to help expand its real estate practice. With the new additions, Houlihan's core real estate group now totals sixteen professionals based in New York and Los Angeles, according to the firm.

The new hires were formerly with JP Morgan’s real estate advisory group, within its real estate and lodging investment banking unit. Gordon joins Houlihan as a managing director, while Kenyon and Gillan join as senior vice presidents, and Mehta as an associate. The team will be based in Houlihan’s New York office and will report to real estate, lodging and leisure group co-heads, Jonathan Geanakos and John Schoenfeld.

Gordon was a managing director at JP Morgan, overseeing its real estate advisory group within real estate and lodging investment banking, and along with his team oversaw such deals as the sale of 650 Madison Avenue to The Carlyle Group and New York-based private real estate investment firm Ashkenazy Acquisition Corporation for $680 million (€430 million) in April. The seller was Hiro Real Estate Company. Kenyon, vice president of the group, has been involved in executing $12 billion of public and private real estate advisory assignments. Gillan, also vice president, has advised on more than $5 billion in real estate deals and portfolios.

Bob Hotz, Houlihan Lokey co-chairman, said in a statement the team’s combined experience “strongly align[ed]” with its goal to grow the firm’s real estate practice.

The investment banking firm, established in 1970, provides services including mergers and acquisitions, financing, financial advisory and restructuring. Gordon told PERE the team will also work with Houlihan's current restructuring practice, which he adds will be increasingly important in the next 12 to 24 months.