Rockwood Capital has hired former Principal Real Estate Investors executive Frank Orioli as transactions managing director.
The San Francisco-based firm said in a statement Orioli would be responsible for sourcing, underwriting and closing transactions. He will be based in Rockwood’s White Plains, New York office.
Orioli previously worked as managing director and investment director at the real estate arm of Principal Global Investors. He has also worked as a senior acquisitions officer with the US pension fund, the State Teachers Retirement System of Ohio.
Rockwood chief investment officer Walter Schmidt said Orioli would help deploy the firm’s recently closed fund, the $964 million Rockwood Capital Real Estate Partners Fund VIII. He said in a statement the fund would look to the office, multi-family and retail sectors.
Fund VIII closed in April with around half the limited partners being repeat investors. Rockwood said it would target all property sectors in cities such as Boston, New York, Washington DC, Los Angeles, the San Francisco Bay area and South Florida through the fund.