Andrew Calderon, 30

A triple threat who focuses on real estate debt origination, workouts and negotiating debt for the firm’s equity book, Andrew Calderon offers New York Life Investment Management a rare set of problem-solving skills. 

“At any enterprise, it’s one thing to solve problems that have a standard script,” Calderon said. “What’s interesting is when you’re presented with something where people don’t have a clear idea of what to do or where to go.”

Calderon initially began going down an investment banking path before finding a calling in real estate. The “art and science” of working in the sector appealed to him — a place where creativity was called for in the face of extensive competition.  

Since ascending to his position as a director of commercial real estate debt origination last September, after focusing on commercial mortgage-backed securities and structured products, he has checked off more than $969.8 million in debt investment opportunities and has accounted for nearly $2 billion in origination volume overall. This includes $1.3 billion in strategic commitments to credit facilities secured by data center and marina assets. He has also arranged nearly $1.3 billion of secured and unsecured financing for the firm’s various funds and general account, while also supporting the workout, restructuring and resolution of more than $609 million of loans.  

Calderon sees both data centers and retail as challenging spaces to operate and find opportunities, areas that require creative problem-solving to find solutions in now-crowded markets. 

His multifaceted role and results speak to what it takes to figure out financing in such an uncertain moment, one constantly challenged by significant economic shocks, rapidly emerging asset classes engendering new levels of risk, and shifting political winds. Figuring out how to evaluate, measure, and take risks becomes a core competency in his role.

“Evaluating risk is a super timely question,” Calderon said. “We often candidly discuss how we maintain our discipline. I think that comes from having a set of principles and a standard. It’s also understanding that the deals will come, and you need to hold the line. New York Life has been around 180 years — it has staying power — and has navigated lots of market conditions and pressures. What helps is having principles.”