Los Angeles-based placement firm Triton Pacific Capital is intent on building its presence on the East Coast. So much so, in fact, that Robert Davis, the firm’s founder and chief executive, is relocating to New York to re-open its location there.
Davis, who is making the move in a week, plans to open a new office at One Rockefeller Center next month. Joining him will be Bernie Bazile, who will serve as vice president. Bazile most recently was vice president of business development at JPMorgan’s global real assets division and earlier held positions at Cambridge Associates and Commonfund. Triton previously opened a New York office that was manned by a single managing director in 2012.
Additionally, Triton has enlisted an executive search firm to recruit two additional senior executives for the New York office, likely at the managing director and possibly the partner level. The firm expects to hire the first of the two executives by the first quarter and the second by the second quarter. The goal is for Triton, which currently has 10 to 12 employees, to have its staff evenly split between the Los Angeles and New York offices in 2015.
“We really need to have a New York presence; it’s become an imperative for us,” Davis told PERE. “We’re not only growing outside of North America, but we’re growing outside of real estate.”
Since the founding of the firm in 1996, Triton has acted as placement agent on numerous real estate funds, including most recently RockBridge Capital’s RockBridge Hospitality Fund VI, which collected $438 million in commitments during a final close last month. In the past three years, however, Triton has expanded its capital-raising assignments into private equity, energy and infrastructure. This is partly the result of real estate investment professionals within Triton’s network being promoted to chief investment officer or other roles that have a broader purview than strictly real estate, he explained.
“That has stimulated our need to have a bigger presence in New York,” Davis said. “That’s why I’m personally moving there to re-establish our flag. It provides us a little easier effort to interact with clients and investors, whether in Europe or on the eastern part of North America.” Longer term, as the firm builds up its businesses in private equity, energy/infrastructure and real estate, the expectation is for Triton to further expand to Europe and possibly Asia, he noted.