Stockbridge Enters Private Wealth Sector, to Focus on Multifamily Rentals
Stockbridge announced the launch of its private wealth business, which will focus on securing capital from individual investors and their wealth advisers across a variety of private wealth channels including independent broker-dealers, registered investment advisers, wirehouses, private banks, and family offices.
Founded in 2003, Stockbridge manages real estate equity investments across the risk spectrum within a variety of investment structures on behalf of U.S. and foreign institutional investors, family offices, and high-net-worth individuals.
As of Sept. 30, 2024, Stockbridge had approximately $33.9 billion of assets under management. Its portfolio has spanned all major real estate property types, and certain specialty property types with an emphasis on residential and industrial space throughout the nation.
“Since Stockbridge’s inception, we have had a strong track record among institutional investors but had not previously identified the right opportunity to expand into private wealth,” said Kristin Renaudin, chief financial officer at Stockbridge. “As we look to the continued strategic growth of the firm over the next few years, expanding into this space will allow us to tap into a broader range of capital sources and create greater investor diversification across the firm.”
Stockbridge has worked closely with Robert A. Stanger & Company, an investment banking firm with expertise in alternative investment products, to identify opportunities in the private wealth sector.
In June 2024, it hired industry veterans Vere Reynolds-Hale and Chris Lundberg to anchor its private wealth team. Prior to joining Stockbridge, Reynolds-Hale and Lundberg were previously with Apollo Global Management (which acquired Griffin Capital Securities in December 2021), where they helped accelerate Apollo’s U.S. wealth market growth plans. At Griffin, the sales team raised over $16 billion of investor equity across a platform of alternative investment solutions.
Stockbridge is continuing to build a team of professionals dedicated to the private wealth business, including approximately 20 client-facing distribution professionals and several operations support staff. The internal sales team and operations professionals will be based in Phoenix, with regional sales directors and consultants located throughout the country.
“Bringing Vere and Chris on board was consistent with Stockbridge’s commitment to backing strong teams with deep experience and a long history of working together, and we look forward to working closely with them through the expansion of the private wealth offering,” said Renaudin.
Stockbridge will offer various real estate investment products for sale in U.S. private wealth channels over the next few years, focusing initially on investing in the residential rental sector, including traditional multifamily assets, as well as certain specialty property types, such as single-family build-to-rent communities.
Mark Alfieri will serve as chief operating officer for the firm’s initial private wealth residential investing platform.
“We are seeking to acquire these assets with the primary objective of supporting sustainable shareholder distributions over the long term, while also achieving appreciation in the value of our properties, resulting in appreciation in the shareholder value,” said Alfieri.
The firm has offices in San Francisco, Atlanta, Chicago, Dallas, Denver, and Phoenix.
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