Centerbridge RE Group
Does anyone know anything about Centerbridge's RE group? Specifically RE credit? Fundraising/deal flow? Pay? I can't find many deals they have done but they seem to have a big team so trying to connect the dots...
They're a really sharp group - credit team covers both private and public markets. Can't speak to pay, but assume it's top of the street.
FWIW, Centerbridge and other UMM funds (think Cerberus, HIG, etc.) have struggled with capital raising and declining fund sizes recently. These groups typically target niche strategies and have missed the window on achieving scale as a result, meaning there is limited ability to grow upmarket.
Doesn't Cerberus purposely like to keep their fund sizes small? I remember Steve Feinberg mentioning that a long time ago, but it could have changed.
I know KPS does just that, and it seems to be the same for Centerbridge.
They have looked at a few of our ground-up deals on the credit side - definitely a sharp group.
Been a bit since we caught up with them, but early this year said they were raising for a senior debt fund.
I am pretty sure their capital is mostly backed by a large insurance SMA.
Bump. Any insight on their equity team in NYC?
Bump. Also, do their RE credit/equity platforms operate as two teams, or is there one team that invests across the cap stack?
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