HARTFORD, Conn., Feb. 22, 2016 /PRNewswire/ -- Cornerstone Real Estate Advisers, one of the largest global real estate investment managers, today announced that Mike Zammitti has been promoted to Chief Investment Officer of U.S. Equity Investments, effective March 1, 2016. He succeeds Drew Williams, who is retiring from the company at the end of February after a 22-year career at Cornerstone.
Scott Brown, Global President and CEO of Cornerstone, commented: "I would like to congratulate Mike on his new and expanded responsibilities within our direct U.S. Equity investment team, which he has been co-leading with Drew since June 2015. Mike has shown exceptional commitment to the company and we are confident in his ability to expand Cornerstone's U.S. commercial real estate portfolios. I would also like to thank Drew for his dedication and two decades of service to Cornerstone. On behalf of global colleagues and clients, I wish him the very best in his future endeavors."
As CIO of U.S. Equity, Mr. Zammitti will oversee Cornerstone's direct equity investments in commercial real estate in the United States and manage all activities in connection with a diversified national portfolio of commercial properties, including acquisitions, asset management and dispositions. Cornerstone has managed discretionary and non-discretionary private real estate equity funds and separate accounts since 1994 and currently services a portfolio with private equity gross assets under management of $12.1 billion in North America.
Previously, Mr. Zammitti served as Cornerstone's Deputy CIO – U.S. Equity, having been appointed to this position in June 2015. He joined Cornerstone in 1996 as a Vice President of Asset Management and joined the Acquisitions team the following year. In 2007, he was then elevated to the role of Managing Director – Equity, responsible for asset management, acquisitions and development activities within the Eastern Region of the U.S. Prior to his work with Cornerstone, he was an Investment Officer with Connecticut Mutual Life Insurance Company in the real estate division. Mr. Zammitti holds an MBA in Finance from the University of Minnesota and a BA in Economics from Rutgers College.
About Cornerstone Real Estate Advisers
Cornerstone Real Estate Advisers LLC, with subsidiary and affiliate offices in the U.S., UK, Europe, and Asia, is one of the largest global real estate investment managers with global AUM of $49.6 Billion as of December 31, 2015. It provides core, value-added and opportunistic investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. For more information, visit www.cornerstoneadvisers.com.
SOURCE Cornerstone Real Estate Advisers LLC