Real Estate

New Sparta brings on managing director to lead real estate unit

Jeff Kirby was named managing director of New Sparta Asset Management's new real estate division, said a spokesman for the firm.

The position is new, and Mr. Kirby started this month.

The new division follows the launch of New Sparta Energy, NSAM's unit specializing in the development of renewable power projects in sub-Saharan Africa.

"He is a highly experienced real estate and investment executive with specialist expertise of building businesses as well as entering new territories and initiating transactions in emerging markets," said Jerome Booth, CEO at NSAM, in a news release.

Prior to his appointment, Mr. Kirby founded, structured and ran a Central and Eastern European real estate development and fund management platform European Future Group. Funds were later divested with assets sold off, and the platform was wound up, said the spokesman.

New Sparta Asset Management also hired Stelian Mitu as investment director in the real estate unit. He was previously investment director at Silverlight Capital Partners. Further details could not be learned by press time.