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Perseus taps former Wachovia manager for RE funds

Robert Kelly is tasked with overseeing real estate investments for the private equity real estate firm’s Perseus Capital City Fund, as well as its latest $200m vehicle, Perseus Realty Partners II.

Washington, DC-based Perseus Realty Partners has appointed Robert Kelly as director of asset management, a newly created position at the firm. He will report directly to Perseus president and founder, Paul Dougherty.

Kelly will oversee the firm’s real estate investment portfolios for its Perseus Capital City Fund and Perseus Realty Partners II, a real estate investment vehicle targeting $200 million (€140 million). The fund had an initial close in April 2008 and focuses on the acquisition of US office, industrial, multifamily and retail properties.

In his new position, Kelly will also oversee communications with developers and investors as well as property managers, leasing agents, vendors, tenants and senior management.

Prior to joining Perseus, Kelly was vice president and senior asset manager at Wachovia Bank in Bethesda, Maryland, where he managed the bank’s structured finance equity investments. Prior to that, he worked as an asset manager at Allied Capital Corporation in Washington DC, and also with Criimi Mae Services in Rockville, Maryland.

The new hire follows on the heels of Perseus’ appointment in June of Julie Rost as director of the firm’s institutional fundraising team. Rost, who was previously senior vice president at Eastdil Secured, also previously worked at the California Public Employees' Retirement System (CalPERS), where she managed real estate portfolios for the public pension.