Hedge Fund Manager Klabin Sets Up New Shop at 512 West 22nd Street

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Hedge fund manager Alexander Klabin, who co-founded the $6.9 billion firm Senator Investment Group but left last year, will set up his new shop at 512 West 22nd Street, Commercial Observer has learned.

Klabin’s Ancient LP signed a five-year deal for 6,800 square feet on a portion of the fifth floor of Vornado Realty Trust’s 11-story building near the High Line, according to a source with knowledge of the deal. Asking rent was $120 per square foot.

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Ancient is set to debut early this year and will focus on buying and building companies in tech-enabled sectors, Bloomberg reported. 

Klabin co-founded the Blackstone Group-backed Senator in 2008 with Douglas Silverman and it managed a peak of $9.5 billion in 2018, The Wall Street Journal reported. However, Klabin and Silverman’s relationship became strained after Senator faced a nearly 10 percent loss in 2018, while the pair had disagreements on the firm’s investment strategy, WSJ reported. Last year, Klabin left Senator to start his own firm.

Aside from launching Ancient, Klabin also invested in Sotheby’s in September and became the executive chairman of its internal art financing business, The Art Newspaper reported.

Ancient’s headquarters will be at Vornado, The Olayan Group and The Albanese Organization’s 172,000-square-foot 512 West 22nd, which completed construction in 2019. It will join WarnerMedia and the loyalty rewards program Next Jump in the building between 10th and 11th avenues.

CBRE’s Ben Friedland and Hugh McDonald represented Ancient in the deal, while Vornado handled it in-house via Josh Glick, Jared Silverman and Jared Solomon. A CBRE spokesperson declined to comment and Vornado did not immediately respond to a request for comment.