New York-based private equity firm Madison International Realty has appointed Michael Chen to managing director of global equity capital markets activities. In the role, Chen will work closely with existing investors and build new relationships with clients in Europe, Asia, the Middle East and Australia.
Madison International founder and president Ron Dickerman told PERE that the firm selected Chen due to his “very high level of investor relationships” and his “working knowledge of an Asian investor base.” Chen, who is based in New York, will be working with international investors on existing funds, new fund formation and co-investments.
Chen joined Madison International from real estate investment and management firm Paramount Group, where he served as vice president and co-head of capital markets. He was jointly responsible for the creation of Paramount’s capital markets group, which is now an international fundraising platform.
“We are thrilled to have Michael join Madison as a member of our senior management team. He brings a global view, keen structuring skills and breadth of experience that will be invaluable as we continue the strategic growth of our firm,” said Dickerman in a statement.
Prior to Paramount, Chen was executive director for the real estate and lodging investment banking group at JP Morgan in New York and London, where he focused on private equity fundraisings and led transaction teams for M&A, equity and debt transactions. Chen also held financial positions with Crestline Capital Corporation and with Marriott International.
Chen’s hire marks the second appointment Madison International has made as part of its global push. In January, the firm promoted Alex Lukesch to head its London office. Lukesch is responsible for the sourcing, underwriting and execution of Madison International’s equity transactions in the UK and Ireland, including all aspects of financial analysis, transaction structuring and property due diligence.
In April, the firm closed on $825 million in equity commitments for Madison International Real Estate Liquidity Fund V, which attracted $75 million more than its target of $750 million. Through Fund V, Madison International is acquiring LP and partial ownership interests in core real estate assets and portfolios in the US, the UK and Western Europe. Approximately 40 percent of the capital in Fund V has been deployed thus far into assets including One California Plaza in Los Angeles, the Saks Fifth Avenue retail store in San Francisco and the Statoil Office Complex in Oslo, Norway.