Robert Tishman passes away, all offices close

Robert Tishman, the co-founder of New York developer and fund manager Tishman Speyer, has passed away.

Tishman, who served as founding chairman having established the firm in 1978 with Jerry Speyer, died on Monday at the age of 94. He died at his home, according to a report in the New York Times.   

As a mark of respect, all of Tishman’s offices around the world are closed today, with the company informing staff in an email to take a day’s leave. Staff were told they could work half a day if they had crucial business to attend to.

Tishman Speyer is one of the largest private equity real estate firms in the world. According to the PERE 30 ranking published in May this year, the firm has raised $13.62 billion in the last five years, helped considerably by a large amount of co-investment capital from the firm’s own resources.

Despite his advanced years, he still worked at Tishman’s offices every day up until around two years ago.  

He had a maxim for contract negotiations according to his business partner, Speyer: “Always leave something on the table for the other guy.”

A spokesperson fo the New York firm said: “Robert Tishman was a great and respected leader for our company, our industry and our city. Known in equal measures for his modesty and integrity, as well as his commitment to excellence, (his) generosity of mind and spirit will be greatly missed. His values and principles will live on as our company’s core values and principles.”