GreenOak appoints Epstein for senior role

The start-up business of ex-MSREI trio Sonny Kalsi, John Carrafiell and Fred Schmidt has hired Jonathan Epstein as managing director to focus on the firm’s US business.

GreenOak Real Estate Advisors, the New York, London and Tokyo-based private equity real estate business founded by ex-Morgan Stanley Real Estate Advisors executives, has hired Jonathan Epstein as a managing director focussed on its US business.

Epstein, an industry veteran of 22 years, circulated a note to colleagues and clients informing them of his move yesterday. According to the note, he will be based in Santa Monica, California.

“I will play a senior role at the firm and will have primary responsibility for the Western US and look forward to continuing our relationship and exploring ways that we might do business together in 2011,” he said.

He referred to GreenOak as a business which partners with organizations considered “best in class” for its investments and whose senior principals have directly acquired or invested in more than $100 billion across cycles, risk spectrums and geographies. GreenOak was founded in 2010 by Sonny Kalsi, John Carrafiell and Fred Schmidt, three of MSREI’s former leaders, and with backing from Dutch listed company Tetragon. The firm has since made inroads into its fundraising efforts for its maiden funds in the US and Japan.

Epstein said: “Combined with my 22 years of experience and similar background I believe we have a very compelling platform for investors, clients and partners.”

From March 2006 to June 2010, Epstein was a president at Los Angeles-based real estate investment firm Hackman Capital. Prior to that he worked for Lehman Brothers where he ended up as managing director. He joined the collapsed Wall Street bank in 1991.