Two former executives from Liquid Realty Partners formed a new real estate investment firm, Clairvue Capital Partners, said Jeffrey M. Giller, managing partner and chief investment officer.
Goldman Sachs, a part owner in the firm and its private equity funds, is committing $250 million to the firm's first fund, Clairvue Capital Partners I. Further information on how much Goldman Sachs invested was unavailable at press time.
Mr. Giller was managing partner and CIO at Liquid Realty; he left the firm in October 2009. Brendan MacDonald, formerly Liquid Realty's director of acquisitions, is a partner at Clairvue. Their duties are being assumed by other executives at Liquid Realty, said a source close to the firm.
Clairvue will focus on real estate restructuring including recapitalizing real estate funds, real estate operating companies, institutionally managed property portfolios, joint ventures and investors' balance sheets.
The new firm's management company, Clairvue Realty Advisors, is owned partially by investment funds managed by Goldman Sachs' Private Equity Group, which also made the first commitment.