JUNIUS REAL ESTATE PARTNERS ADDS TO INVESTMENT TEAM
Jun 10, 2011
New York, N.Y. , June 10, 2011 – J.P. Morgan Asset Management today announced that it has hired Rich Gomel as Managing Director and Partner of its boutique opportunistic real estate investment group, Junius Real Estate Partners.
Junius, launched in early 2011, is a dedicated opportunistic real estate investment platform backed by the institutional support services and infrastructure of J.P. Morgan Asset Management. Junius offers sophisticated investors access to high-return U.S. real estate by exploiting sourcing opportunities throughout the capital stack.
Mr. Gomel joins from Starwood Capital Group, where he served as Managing Director. In his most recent role at Starwood, he oversaw the group’s hotel acquisitions efforts as well as a dedicated hospitality fund with almost $1 billion in equity commitments. Mr. Gomel also previously served as CEO of Groupe du Louvre, a Starwood Capital investment with over 800 hotels throughout Europe across various market segments.
In his new role at Junius, Mr. Gomel will help oversee acquisition strategy and execution, deal structuring and asset repositioning, as well as serve on Junius’ investment committee.
“Rich brings a wealth of transactional, strategic and operational real estate knowledge. His deep, market-tested experience and asset management acumen will greatly enhance Junius Real Estate Partners,” commented John Fraser, Managing Partner of Junius. “Rich’s arrival, following closely on the heels of David Godbout, another partner who joined Junius in April from Ceres Realty Fund, completes the build-out of the Junius investment team.”
About J.P. Morgan Asset Management – Global Real Assets and Junius Real Estate Partners
J.P. Morgan Asset Management, under its Global Real Assets and Junius Real Estate Partners divisions, has approximately $56.3 billion in real estate and infrastructure assets under management, as of March 31, 2011. With a 40-year history of successful investing and a staff of 380 professionals, J.P. Morgan Asset Management – Global Real Assets identifies, analyzes, negotiates, acquires, develops, redevelops, renovates, operates, maintains, finances and sells real assets, on behalf of its clients. J.P. Morgan Asset Management's broad investment capabilities and framework for analyzing opportunities in today's complex real estate and infrastructure markets provide critical insights for its institutional clients in both the public and private markets. Junius Real Estate Partners, a separate division, was formed in 2011 to respond to a U.S. real estate market opportunity characterized by vastly deteriorated market and property-level fundamentals, overleveraged and poorly capitalized ownership structures, a lack of marketplace liquidity and favorable negotiating dynamics for well capitalized investors.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under supervision of approximately $1.9 trillion and assets under management of $1.3 trillion (as of 3/31/11), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. Those businesses include, but are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated, Junius Real Estate Partners and J.P. Morgan Alternative Asset Management, Inc.