Former investment bank executive Ruth Barone has formed New York-based private equity real estate firm Glenmere Capital Partners.
Barone co-founded Glenmere with consultant and former Carlton Group executive Bryant Bernhardt, and will target joint ventures primarily focusing on New York properties, including hotel, office and residential projects.
Barone told PERE the firm would look further afield in the US and worldwide according to the deals. “Niche markets are particularly attractive,” she said, although retail was feeling the impact of the credit crisis, especially in the US. “This is a contrarian time but there are opportunities to be had, you just have to be strategic about things.”