Participant Capital Advisors, a real estate investment management firm and private placement sponsor focused on ground-up real estate developments, has hired industry veteran Bernard Wasserman as president.
According to the company, in his new role, Wasserman will lead the firm and grow its outreach to the wealth management industry while reinforcing relationships with institutional investors.
Prior to joining Participant, Wasserman served as managing director of capital development at Virtus Real Estate Capital, where he was responsible for brokerage, family office and registered investment advisor relationships in the U.S., Latin America and Europe. Previously, he was director of investment product origination at Citigroup Global Markets Inc. and senior vice president of structured fund products at HSBC Securities (USA) Inc.
Participant offers accredited investors and family offices investments in mixed-use real estate through its affiliated development company, Royal Palm Companies, which has developed 50+ mixed-use projects over more than 40 years, the company said.
Participant Capital was founded in 2011 to provide funding for Royal Palm developments, and is now looking to further expand its pipeline of wealth management investment offerings, including third-party real estate developments.
“Bernie will champion Participant’s effort to become the private equity real estate development fund and direct real estate project investment manager of choice for registered investment advisors and family offices,” said Daniel Kodsi, chief executive officer and managing principal of Participant Capital and CEO of Royal Palm Companies.
He added, “As a real estate investment management professional with 30 years of experience working for some of the biggest names on Wall Street, Bernie is the right leader to help us grow Participant Capital and ensure that it becomes the prime funding source for both Royal Palm Companies and other first-rate development projects.”
Participant Capital is a real estate investment management firm that provides wealth managers with access to preferred equity, project, and fund investment opportunities.