New investment firm launches with RE private credit strategy

A new investment firm has launched to tap into opportunities in the real estate market.

Caro Investors Management has been founded by real estate investment veteran Careina Williams and has backing from alternative asset manager TPG, which will act as an anchor investor and strategic partner to support the growth of the Maryland-based firm.

Caro Investors’ inaugural real estate private credit strategy is focused on mid-market investments, with underlying commercial real estate exposure in asset classes, including multifamily, industrial, investment-grade retail, and other defensive real estate sectors that it believes are resilient.

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“With Caro Investors, we intend to fill a growing void of institutional investment management firms addressing middle-market investment opportunities in real estate equity and credit,” said Williams, who serves as managing partner. “Our investment strategy and process honed over more than 20 years is driven by creativity, rigor, and perseverance, and we are proud to find a partner in TPG who shares these same values. TPG’s support will be instrumental as we continue to enhance and expand our investment platform.”

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TPG will provide strategic and operational capabilities to support Caro Investors’ launch and expansion, including areas such as procurement, talent acquisition, capital formation, investment sourcing, and diligence.

“The current market environment is a compelling back drop for Caro’s launch, and we are delighted to partner with such a promising new firm,” said Marcus Lawrence, principal at TPG.

Read more: $500bn opportunity for commercial real estate private debt