Orlando, FL-based CNL Financial Group, a private investment management firm providing global real estate and alternative investments, has hired investment industry veteran Brett Schlemovitz to serve as the company’s managing director of business development.
Schlemovitz served as an executive director of J.P. Morgan’s Investment Bank for the last eight years, where he provided capital raising and strategic advisory services for financial institutions, focusing on asset managers, alternative investment managers and specialty finance companies.
Schlemovitz has previously been heavily involved in the business development company sector, including serving as the lead arranger for a $400 million term loan for Corporate Capital Trust, a BDC co-sponsored by CNL and KKR.
In his new role, Schlemovitz will be responsible for driving business expansion and new product development, as well as helping CNL continue to identify and connect with world-class partners for the company’s investment funds.
“While for much of our 42-year history, CNL focused on investment in real estate, in more recent years, we have identified significant opportunities in other alternative investments, including corporate debt and energy, and have formed partnerships with key industry leaders to help us enter those markets,” notes Thomas K. Sittema, CEO of CNL.
Sittema adds that “As the demand for alternative investments continues, we think there are continued opportunities to develop new products and form partnerships with asset managers in a variety of industries to help take those products to market. We are delighted to welcome Brett to our team to help us better identify and pursue these new opportunities.”
Schlemovitz has a bachelor’s degree of business administration from Emory University and is a Chartered Financial Analyst.
“I have had the opportunity to work with several members of the senior leadership team at CNL before, and know the firm has a strong reputation as both a company that provides investors with unique opportunities and employees a great place to work,” Schlemovitz said. “I am honored to be a part of this company. I believe my unique background will help CNL expand its opportunities in the market, and I look forward to playing a role in its continued growth.”
This is the recent of a few major executive moves for CNL. In May of this year, as The DI Wire reported, Tammy Tipton was hired as chief financial officer and Treasurer, effective May 1. Tipton had been with CNL Financial Group since 1987 in various financial and accounting roles. Most recently, she was appointed Group chief financial officer of CNL Financial Group, overseeing accounting, reporting, planning, and budgeting for CNL and affiliates.