Guggenheim Partners, the New York-and-Chicago-based financial services firm that failed to tried to take over RREEF Real Estate in 2012, has appointed Jonathan Goldstein as head of real estate and direct investments in Europe.
The firm, which has a total of 25 offices worldwide and $190 billion of assets under management, said the appointment was a “major milestone” in its global expansion of real estate and infrastructure activities, adding that he would lead deals in the UK and Europe.
Goldstein is joining from London-based developer Heron International which was founded by British entrepreneur Gerald Ronson. He joined Heron in 2008 and was most recently its deputy chief executive. Guggenheim said he started in his new role at Guggenheim’s London office on 1 January.
As well as being deputy chief executive at Heron, Goldstein was also chief executive of Ronson Capital Partners, a private equity real estate arm. The firm organised an investment club in 2010 and Goldstein went on to spearhead the acquisition of two luxury residential developments in London with a combined gross development value of more than £600 million (€721 million; $986 million). The dealmaker is a former lawyer at law firm Olswang.
Henry Silverman, Guggenheim Partners’ global head of real estate and infrastructure, said: “Jonathan joins us to expand the scale of our European investing, in keeping with our mandate to source and originate above-market real-estate and infrastructure investment opportunities for our clients.” He added: “Jonathan’s exceptional knowledge of direct investing in real assets in the UK and on the Continent, together with his background in finance, management and law, make him the ideal person to lead our expansion in Europe.”
Guggenheim’s real estate activities begun in 2001 and a team is housed within an alternatives group. The firm manages an array of strategies from direct real estate transactions and private funds to REIT securities, secondary market fund partnerships, CMBS, and preferred equity and mezzanine debt financing.