Klebes departs Aetos

Daniel Klebes, the one-time architect of Goldman Sachs’ Whitehall Funds investments in Japan has resigned from his current position as chief investment officer of Asia private equity real estate firm, Aetos Capital.

Daniel Klebes has resigned from his position as chief investment officer at Japan and China-focussed private equity real estate firm Aetos Capital after seven years in the role.

The dealmaker told company clients and colleagues at the end of December that he had left for personal reasons. He was responsible for evaluating and pricing investments however his duties are to be assumed by chief executive officer, Scott Kelley.

Klebes, who spearheaded Goldman Sachs Whitehall Funds move into Japan in the 1990s, told PERE he expected to take up to a year out to plot his next move.

In the meantime, he has set up a Greenwich, Connecticut-based company, GTO Capital Management, to provide advisory and consulting services.

He will also assume a place on Aetos Capital’s investment committee, advising the firm on fund acquisitions. Aetos is currently fundraising for its forth fund, the Aetos Capital Asia IV Strategic Partners fund, aiming to raise $1 billion from investors.

Klebes had no non-compete agreement in place with Aetos but said he would not seek to launch a rival business in the short term. He said: “Given how deeply involved I’ve been in Aetos business here and my loyalty to Aetos’ clients in Japan, it’s probably best for me to take some time and space between working at Aetos and doing something new in Japan.”

Klebes joined Aetos in 2004, initially living in Tokyo, before splitting his time between Japan and the US from 2006. Before Aetos, he was a managing director within the merchant banking division of Goldman Sachs. Prior to that he established the Tokyo office and lead the Japan investment activities for Goldman Sach’s Whitehall fund series. He joined Goldman Sachs in 1987.

During his time at Aetos, Klebes saw the Tokyo office of the firm, launched originally by Morgan Stanley Real Estate Funds creator Jim Allwin, grow from 50 staff to 120 at its peak. The office currently has approximately 70 staff today.

PERE caught up with chief executive officer Scott Kelley last summer to learn more about Aetos Capital and its strategy. To read the interview, click here.