PPM America Announces Hire of BlackRock Vet to Expand Real Estate Debt Capabilities
CHICAGO--(BUSINESS WIRE)--Oct 2, 2018--PPM America (“PPM”) today announced the addition of new Managing Director, Mark Kramer, who joins the firm’s 33-member commercial real estate team, which includes employees of PPM as well as PPM’s affiliate, PPM Finance, Inc. (“PPM Finance”). Based in Chicago, Mark joins from BlackRock, Inc. and brings 18 years of real estate investment expertise in mezzanine loans, stretch senior loans, deal structuring, and fund raising. Founded in 1995, the commercial real estate team manages $8.06 billion in commercial mortgage lending assets in addition to $2.70 billion in commercial mortgage-backed securities and $2.58 billion in REIT debt (as of June 30, 2018).
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Mark Kramer, Managing Director (Photo: Business Wire)
“Mark will serve as an important addition to our team as we continue to augment our commercial real estate capabilities which have historically focused on investments in senior loans,” said Kent Born, Senior Managing Director and Head of Commercial Real Estate. “Mark joins us at a pivotal time as we continue our expansion plans to extend the firm’s offerings to institutional investors in the US. Mark’s experience at BlackRock allows us to expand our commercial mortgage lending platform into higher yielding debt, including bridge loans and mezzanine loans. We look forward to having him join our team and are confident that his experience will strengthen our presence in the commercial real estate space.”
Prior to joining the commercial real estate team, Mark was Director of the Commercial Real Estate Debt group at BlackRock, Inc. and was responsible for the sourcing, transaction management, credit analysis, closing of high yield debt investments, and all aspects of deal origination. Previously, he was a lead analyst for Merrill Lynch’s Global Markets and Investment Banking division with a focus on commercial mortgage-backed securities. Mark earned a master’s degree in finance from Pepperdine University and a bachelor’s degree in diplomatic history from the University of Pennsylvania.
Mark stated, “PPM Finance has a great reputation in commercial real estate finance; I am very excited to join Kent and a seasoned team of industry professionals. Working together, I am confident that we will leverage the platform’s long-standing track record into higher yielding investments, including stretch senior loans and subordinate debt.”
About PPM America
Founded in 1990, PPM America (“PPM”) is a client-focused investment manager with more than $111.61 billion in assets as of June 30, 2018, including $8.06 billion managed by PPM Finance Inc., an affiliate that manages commercial mortgage loans and certain real estate investments. As part of one of the world’s leading financial organizations, PPM has the expertise, global reach and substantial resources to provide our clients with investment solutions across markets, including public fixed income, public equity, private equity, and private debt. However, like a smaller shop, PPM remains nimble, investment-led and responsive to the opportunities that teams discover together. PPM’s mission is to deliver specific client solutions and service to investors around the world with the goal of meeting investors’ unique investment objectives. In addition, PPM employees are committed to building their community and supporting local nonprofits that strengthen families and increase economic opportunities. For more information about PPM, please visit PPM America’s website at: www.ppmamerica.com.
PPM is an indirect subsidiary of Prudential plc (“UK Parent”), a company incorporated in England and Wales. The UK Parent and its affiliated companies constitute one of the world’s leading financial services groups providing insurance and financial services through its subsidiaries and affiliates throughout the world. It has been in existence for more than 165 years and has $876.68 billion in assets under management (as of June 30, 2018). The UK Parent is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
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CONTACT: PPM America
Julie Bruzek, Managing Director
Marketing & Communications
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: PPM America
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PUB: 10/02/2018 08:30 AM/DISC: 10/02/2018 08:30 AM