DWS boosts US real estate credit team with four JP Morgan hires
DWS has bolstered its US real estate debt team with four hires from JP Morgan.
The alternative asset manager, spun out of Deutsche Bank, has named Jay DeWaltoff as head of US real estate debt.
In his new role, he is tasked with accelerating the growth of its existing US real estate credit business and expanding its global private credit platform.
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He will be based in the firm’s New York City office and report directly to Todd Henderson, co-global head of real estate and head of real estate for the Americas.
DeWaltoff has over two decades of origination and structuring experience. Prior to joining DWS, he was head of the commercial mortgage loan group at JP Morgan Asset Management within its alternatives platform.
In that position, he was directly responsible for capital raising, constructing portfolios and approving all new investments.
During his 11-year tenure at the firm, DeWaltoff saw the commercial mortgage lending platform grow from commitments of less than $2bn (£1.6bn) to over $13bn.
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He has also held previous roles at Citigroup Global Markets and Cushman & Wakefield.
DeWaltoff is joined on the real estate credit team by Daniel Sang, Catherine Millane, and Khrystyna Bazylyak, who all come from JP Morgan Asset Management.
“With $116bn in assets across our alternatives platform and a 50-year track record, DWS has cultivated longstanding strategic relationships with investors seeking access to private real estate, infrastructure, and liquid real assets,” said Henderson. “We are seeing increased opportunities in the debt market due to the macroeconomic and regulatory environments which should deliver attractive risk-adjusted return potential to investors.
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“We are delighted to welcome Jay to the team as we deepen our commitment to our clients in the alternatives sector and look to take advantage of improving fundamentals in the real estate sector to generate above-average returns across the risk spectrum in the asset class.”
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