As a means of bolstering its future fundraising efforts, Madison International Realty has hired former Tishman Speyer executive Todd Silverman as managing director of equity capital markets, a new position at the firm. In this role, which he started on Monday, Silverman will continue to develop and execute the New York-based real estate secondaries firm's fundraising strategy and serve as liaison with its investors.
According to Madison International president Ronald Dickerman, the firm began seeking a managing director for its capital markets business following the success of its last fund, Real Estate Liquidity Fund IV. That fund held a final closing on $510 million in February, exceeding its original target of $400 million.
“We've grown to a place where we need a dedicated senior professional to run our capital markets sector,” Dickerman said. “Todd presents himself with a professional institutional presence and brings a sophisticated skill set, in addition to specific knowledge of the equity capital markets.”
Since Fund IV closed just a few months ago, Madison International has no plans to start a new fundraising campaign anytime soon. However, the firm wanted to be ready for when it does decide to launch a new venture, as well as foster its international investor base in the meantime.
Silverman joins Madison International after working at Tishman Speyer for six years, where he most recently served as managing director and head of global business development and global leasing and relationship manager for equity capital markets. Prior to that, he served as director of New York leasing for the New York-based owner-developer and as an associate for New York acquisitions and asset management.
With $1 billion in capital commitments, Madison International acquires partial ownership interests and provides equity for recapitalizations, debt restructurings and to monetize embedded equity in existing ownership entities. The firm invests only in secondary transactions and focuses solely on existing properties and portfolios in the US, the UK and Western Europe.