Apr 23, 2024
Centerbridge Partners’ Top Real Estate Dealmaker Rahm to Depart
Bloomberg News
,(Bloomberg) -- Centerbridge Partners’ Billy Rahm, who oversees global real estate investing, is leaving the firm, according to people with knowledge of the matter.
Rahm, a senior managing director who has worked for Centerbridge since 2006, was involved in the alternative-asset manager’s bets on companies including Great Wolf Resorts and Suntex Marina Investors.
The firm has been investing out of Centerbridge Partners Real Estate Fund II, a $2.3 billion vehicle that it closed in 2022. Its investors include the Teachers’ Retirement System of Louisiana and the Oklahoma Firefighters Pension & Retirement System, according data compiled by Bloomberg.
A spokesperson for New York-based Centerbridge had no immediate comment.
Senior real estate dealmakers have departed from other alternative-asset managers in recent years, including Tyler Henritze, who left Blackstone Inc. to found his own investment firm, Town Lane.
Read More: Centerbridge Joint Venture Eyes $1.25 Billion in Marina Deals
©2024 Bloomberg L.P.