Accord Group Holdings has received a preferred equity investment from JMP Group, an investment banking and alternative asset management firm. Terms of the financing were not disclosed. Accord is a provider of investment management and advisory services to the real estate private equity industry.
Accord Group Holdings LLC, a provider of investment management and advisory services to the real estate private equity industry, announced today that it has received a preferred equity investment from JMP Group Inc., an investment banking and alternative asset management firm. Terms of the financing were not disclosed. The composition of Accord’s management committee remains unchanged.
“We plan to take our business to the next level by having the capital that allows us to remain highly aligned with our investors while expanding the range of creative, highly differentiated strategies that we can offer them.”
The funding will enable Accord to facilitate additional hires, overseas expansion and strategic investments in sponsors of real estate private equity funds. “We are pleased to achieve this important milestone for our company with JMP, a leader in providing equity research, institutional brokerage and investment banking services for growth companies and their investors.” said Jack Berquist, a Managing Partner and Co-Founder at Accord. Joe Jolson, Chairman and Chief Executive Officer of JMP Group added, “Jack and I worked together at Nationsbanc Montgomery in the late 1990’s. JMP is delighted to partner with Accord and provide growth capital to build a world class business.”
Accord was founded by Jack Berquist, Desi Co and Jeff Sobczynski in 2013. During their careers, Accord’s principals have raised more than $18 billion in equity capital from some of the preeminent institutions in the real estate private equity industry and have completed more than 30 real estate fund investments.
Desi Co, a Managing Partner and Co-Founder of Accord, said, “Real estate private equity inflows remain heavily skewed toward a handful of very large, diversified global players. As a result, many capital-starved sponsors have been left behind that continue to manage highly valuable portfolios of real estate in suboptimal ownership structures. This creates an opportunity for Accord to inject its capital and leverage its core skills to maximize value.”
Jeff Sobczynski, an Accord Managing Partner and Co-Founder that oversees Accord’s investment management business added, “We plan to take our business to the next level by having the capital that allows us to remain highly aligned with our investors while expanding the range of creative, highly differentiated strategies that we can offer them.”
About Accord Group Holdings LLC
With headquarters in San Francisco and additional offices in Chicago and London, Accord Group Holdings LLC harnesses a powerful combination of capital markets, investment management and principal investment capabilities for a wide variety of participants in the real estate private equity industry globally. Through its affiliates, Accord provides investment management services for both institutional and high-net-worth investors as well as advisory and capital raising services.
About JMP Group Inc.
JMP Group Inc. is an investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients as well as alternative asset management products and services to institutional and high-net-worth investors. JMP Group operates through three subsidiaries: JMP Securities, Harvest Capital Strategies and JMP Credit Advisors.