ACORE Capital Appoints Matt Drummond as Head of High-Yield Strategies
25 Julio 2024 - 7:30AM
Business Wire
ACORE Capital, LP (“ACORE”), one of the leading U.S. commercial
real estate debt managers, today announced that it has expanded its
senior leadership team with the appointment of Matt Drummond as
Senior Managing Director and Head of High-Yield Strategies. In this
newly created role, Drummond is responsible for leading ACORE’s
high-yield strategies and working with the firm’s 28-person
originations team to deploy capital across the higher yielding
components of the capital stack. He is based in New York City,
reports to Chief Executive Officer Warren de Haan, and is a member
of ACORE’s Investment Committee.
“Appointing Matt to this important role positions ACORE to
further expand and accelerate the growth of our high-yield
platform,” said De Haan. “Institutional investors are expressing
strong demand for these types of products, and Matt’s experience
leading successful investments across a range of high yielding
strategies will materially accelerate our ability to deploy capital
into investments that have the potential to deliver equity like
rewards at debt like risk.”
Drummond joins ACORE from Affinius Capital (“Affinius”) where he
co-led its opportunistic and preferred equity strategies. In this
role, he was responsible for strategy development, capital
formation and the sourcing, structuring and closing of new
investments across a broad range of asset classes and levels of the
capital structure including common equity, preferred equity,
mezzanine financing and first mortgage debt. Drummond was also
responsible for the oversight of business plan execution and
portfolio management of many of Affinius’ funds and separate
accounts.
“I look forward to working with such a talented team and
leveraging my expertise to grow the firm’s opportunistic credit
strategy and launch other high-yield strategies that make ACORE’s
value proposition to investors and the commercial real estate
community even more compelling,” said Drummond.
Drummond is the latest high-profile industry executive to join
ACORE’s senior leadership team following the recent appointments of
Michael Wilkinson as Chief Financial Officer and Brian Abbott as
Head of Asset Management. Adding high-caliber senior talent to its
deep bench of commercial real estate professionals is part of
ACORE’s plan to further bolster its competitive edge, broaden its
investor base and expand its investment capabilities.
De Haan concluded, “We believe the vintage of commercial real
estate investing over the next two to three years will be the most
attractive in decades. We are aggressively making strategic
investments to ensure we have the right resources and structure in
place to capitalize on the compelling investment opportunities we
identify.”
Drummond was selected as the result of a rigorous search process
led by ACORE’s executive team. Highridge Search, a global executive
search firm specializing in real estate and hospitality, advised
ACORE on the search.
About ACORE Capital
ACORE Capital, LP is one of the leading U.S. commercial real
estate debt managers with approximately $20 billion of assets under
management. With offices in New York, Los Angeles, Miami, San
Francisco and Dallas, ACORE originates, acquires and manages first
mortgages, B-notes, mezzanine debt and preferred equity. ACORE’s
success has been fueled by its long-standing industry relationships
and access to a consistent pipeline of origination opportunities.
For more information, please visit www.acorecapital.com.
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