TPG’s real estate origination platform has hired a replacement for its head of origination, the firm said Friday.
Earlier this month, PERE reported that TPG Real Estate Finance Trust’s (TRT) former managing director and head of origination James Yung left the firm, along with director Michael Nagelberg, to join Blackstone’s real estate debt platform, Blackstone Real Estate Debt Strategies.
Now, TPG has tapped Peter Smith to fill Yung’s role. Smith will start in November in the firm’s New York office. He comes from New York-based Ladder Capital, where he was a managing director and worked with Greta Guggenheim, who was formerly Ladder’s president and head of origination and joined TRT as chief executive in January. A spokesman for Ladder declined to comment on Smith’s departure.
“Peter is an accomplished investor with an extensive relationship network and a unique knowledge of the real estate and debt sectors, making him a highly talented, valuable addition to our team,” Guggenheim said in Friday’s statement. “I have enjoyed knowing and working with Peter and look forward to the opportunity to work with him again.”
Smith, who joined Ladder as a principal in 2014, previously worked at Credit Suisse and UBS.
TRT manages an approximately $3.2 billion commercial real estate loan portfolio, and originates and acquires senior real estate loans across property types in North America.