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Northwood Securities transforms in management buyout

The management team of Northwood Securities completed a management buyout from parent Northwood Investors and launched Jaguar Listed Property on Jan. 2.

The new firm, which runs an actively managed strategy focused on investment in publicly listed real estate companies and operating platforms globally, is majority owned by its employees.

Jaguar Growth Partners, a real estate manager also specializing in publicly listed real estate companies, and Hwa Hong Corp., a Singapore-based investment holding company, each own significant minority stakes in the new firm, confirmed Shree Dhond, a JLP spokesman.

Mr. Dhond said financial terms of the deal, including the size of stakes held by each firm, were not being disclosed.

The $500 million of assets in commingled and separate accounts managed for an all-institutional client base moved with the JLP team from Northwood Securities, Mr. Dhond said.

"For our team, the new structure gives us operational independence and greater control over our future, including the ability to add differentiated products and expand our platform over the long term," said James E. Rehlaender, JLP's CEO, in a company news release.

"We look forward to capitalizing on our strategic partnerships with JGP and Hwa Hong, whose principals have been investing in real estate markets for decades," Mr. Rehlaender added.

Gary Garrabrant, JGP's CEO, said "we're thrilled to welcome JLP to the Jaguar family as we thoughtfully expand our global investment activity centered on real estate companies," adding that the firm is "particularly excited about partnering with Hwa Hong."