Jarret Cohen has left Fir Tree Partners and has formed Jadian Capital LLC, which will invest in the commercial, residential and alternative real estate sectors. Cohen was previously head of private real estate at Fir Tree.
NEW YORK–(BUSINESS WIRE)–Jarret Cohen, former Head of Private Real Estate at Fir Tree Partners, today announced his departure from Fir Tree and his formation of a new real estate investment firm named Jadian Capital, LLC.
Jadian will be building out a full-scale real estate investment firm with a broad mandate, investing throughout the capital structures of assets and companies. The firm plans to invest in commercial, residential and alternative real estate sectors, building on Cohen’s successful investment history.
“I am extremely excited about the launch of Jadian. Despite the challenging environment, we continue to uncover compelling real estate opportunities, even if they are sometimes hiding in non-real estate sectors. We look forward to capitalizing on these situations in our new firm,” said Cohen.
Since 2010, Cohen has overseen numerous investments at Fir Tree in both equity and debt of real estate-related assets, and in companies across traditional and alternative real estate sectors. A sampling of key investments in which Cohen played an instrumental role included:
• sPower – creation of our nation’s largest private solar utility, recently sold to AES and Alberta Investment Management for $1.6 billion.
• Gramercy Europe – founding of the leading net lease company focused on Western Europe industrial properties alongside Gramercy Property Trust and other investors, recently sold to AXA for $1.1 billion.
• NYC multi-family venture – creation of a platform to acquire and work out non-performing loans secured by rent-stabilized multi-family properties.
• Self-storage venture – creation of a platform to acquire and add value to under-managed self-storage properties along the East Coast.
• Origination of numerous opportunistic transactions in the office, hotel, multi-family and other sectors.
Upon its launch today, Jadian will be asset managing the private real estate investments held by Fir Tree’s Real Estate Fund III. Jadian and Fir Tree will collaborate on the wind down of these assets over the next two to three years. “Fir Tree has been a very supportive partner, and I look forward to working together to maximize the value of the remaining assets in the Fund,” Cohen added.
Cohen joined Fir Tree in 2010 to build its private real estate business and is a Partner and Managing Director. Prior to joining Fir Tree, Cohen held senior positions at Paramount Group and Merrill Lynch, in their respective real estate groups. He is a graduate of The Wharton School of the University of Pennsylvania, and sits or has sat on the board of directors of sPower, Gramercy Europe, CiG Wireless and Standard Amusements.
ABOUT JADIAN CAPITAL, LLC
Formed in 2017 by Jarret Cohen, Jadian Capital is a real estate investment firm, targeting opportunities throughout the capital structures of real estate-related assets and companies. The Jadian team seeks real estate opportunities wherever they may be found, including in non-real estate sectors or businesses. Areas overlooked by traditional investors are often fertile ground for Jadian’s opportunistic, value-oriented approach. By focusing on diverse industries, Jadian identifies out-of-favor or misunderstood themes, seeking complex and often distressed situations to find targets with the most attractive risk-adjusted returns available.