Private equity firm Madison International Realty has recruited real estate executive Michael Chen as managing director.
Chen, who will be responsible for global equity capital market activities, joins the firm from Paramount Group where he worked as a vice president and co-head of capital markets.
Prior to that he worked as executive director for the real estate and lodging investment banking group of JP Morgan. He focused on private equity fundraising and led transaction teams for M&A, equity and debt transactions.
Madison founder and president Ronald Dickerman said that Chen “brings a global view, highly developed investor relationships, keen structuring skills and breadth of experience that will be invaluable as we continue the strategic growth of our firm”.
The firm announced the final closing of its Madison International Real Estate Liquidity Fund V in April this year with $825m of equity commitments, exceeding its $750m target.
About 40 per cent of the capital from the vehicle has been invested, including into One California Plaza in Los Angeles, the Saks Fifth Avenue retail store in San Francisco and the Statoil Office Complex in Oslo, Norway.
In April last year AltAssets revealed that Madison had raised the first $100m for the liquidity fund in just one month.
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