NEW YORK, July 7, 2014 /PRNewswire/ -- Madison International Realty, a leading real estate private equity firm, has appointed Michael Chen as Managing Director overseeing its global equity capital markets activities.
"We are thrilled to have Michael join Madison as a member of our senior management team. He brings a global view, highly developed investor relationships, keen structuring skills and breadth of experience that will be invaluable as we continue the strategic growth of our firm," said Ronald M. Dickerman, Madison founder and president. "Our unique class A, direct secondary strategy has broad appeal for investors worldwide, as shown by the success of our latest fundraising project, Fund V, which attracted a diverse roster of global investors. Michael will step seamlessly into his role."
Mr. Chen joins Madison from Paramount Group, Inc., an $11 billion office owner/operator, where he was Vice President and co-head of capital markets. He was jointly responsible for the creation of Paramount's capital markets group, which is now an international fundraising platform.
Previously, Mr. Chen served as Executive Director for the real estate and lodging investment banking group of J.P. Morgan in New York and London, where he focused on private equity fundraisings and led transaction teams for M&A, equity and debt transactions.
Mr. Chen also held financial positions with Crestline Capital Corporation and with Marriott International. A graduate of the University of Michigan, he holds an M.B.A. from the University of North Carolina, Kenan-Flagler Business School. He is a member of the Pension Real Estate Association (PREA) and the Association of Foreign Investors in Real Estate (AFIRE), and serves on the due diligence committee of INREV.
Madison International Realty specializes in acquiring partial ownership and joint venture interests in class A properties and portfolios in primary markets in the U.S., U.K. and Western Europe. The firm also provides joint venture equity to owners, sponsors and investors seeking to monetize existing equity positions, restructure balance sheets, or to replace existing capital partners.
Madison recently announced the final closing of its latest fund, Madison International Real Estate Liquidity Fund V, LP (Madison V) with $825 million of equity commitments, exceeding its $750 million target. Madison V has already deployed approximately 40% of its capital commitments, about $340 million, in prime assets including One California Plaza in Los Angeles, the Saks Fifth Avenue retail store in San Francisco, Songbird Estates Plc, which controls London's Canary Wharf, and the Statoil Office Complex in Oslo, Norway.
About Madison International Realty
Madison International Realty (www.madisonint.com) is a leading liquidity provider to real estate investors worldwide. Madison provides joint venture and preferred equity capital for real estate owners and investors that are looking to de-lever their properties; seek an exit strategy; or where existing sponsors seek to sell a portion of their ownership position. The firm provides equity for recapitalizations, partner buyouts and capital infusions; and acquires joint venture, limited partner and co-investment interests as principals. Madison invests only in secondary transactions and focuses solely on existing properties and portfolios in the U.S., U.K., and Western Europe. Madison has offices in New York, London and Frankfurt, Germany, where the firm operates under the name of Madison Real Estate Beteiligungsgesellschaft mbH.
SOURCE Madison International Realty