Ladder Capital Chief Investment Officer Greta Guggenheim is parting ways with the firm she co-founded to lead the newly formed real estate finance arm of TPG Capital, two people familiar with the matter told Commercial Observer.
Ms. Guggenheim will join TPG Real Estate as the chief executive officer of TPG Real Estate Finance Trust, the firm’s debt origination and acquisition platform, a TPG spokesman confirmed. She will assume her new role in the firm’s New York office in January 2016.
Fort Worth, Texas-based TPG launched its real estate finance subsidiary in January 2015 when it acquired $2.5 billion in high-yield real estate debt from Deutsche Bank.
Ms. Guggenheim, a Wharton Business School graduate and former Bear Sterns and UBS executive, co-founded Ladder with the commercial real estate lender’s CEO Brian Harris and chief strategy officer Pamela McCormack in 2008.
The New York-based firm, which went public in February 2014, no longer has Ms. Guggenheim listed on the company management page of its website.
TPG, founded in 1992, is listed as one of the largest private equity investment firms in the world with about $75 billion in assets.
Ms. Guggenheim could not be reached for comment. A Ladder spokesman declined to comment.
—Additional reporting by Danielle Balbi