Kennedy Wilson has appointed former Guggenheim Partners fundraising executive Donald Bethe as senior managing director of its capital markets team.
Bethe was previously senior managing director at Guggenheim, having joined the firm as sole fundraiser for its Asset Management arm. Prior to Guggenheim, Bethe was an executive director at UBS Investment Bank and vice president at Donaldson, Lufkin and Jenrette (DLJ).
The news follows the acquisition of the Beverly Hills-based real estate investment firm, which operates closed-ended funds as well as separate accounts, by the blank-cheque company Prospect Acquisition.
Don Herrema, executive vice chairman of Kennedy Wilson Capital Markets and in charge of the firm’s fundraising activities, told PERE last week that Kennedy Wilson’s existing management team would continue to operate the firm and have a significant stake in the company.
“Zero people from Prospect will come over [to Kennedy Wilson],” he said. “We have been exploring a number of alternative ways of raising additional capital for use in co-investment … and this opportunity came to us.”
In a statement, Herrema said Bethe’s appointment would help Kennedy Wilson “exploit the historic opportunities in the real estate markets”.