NEW YORK--(BUSINESS WIRE)--ACORE Capital, LP (“ACORE”), one of the leading U.S. commercial real estate debt managers, today announced that it has expanded its senior leadership team with the appointment of Matt Drummond as Senior Managing Director and Head of High-Yield Strategies. In this newly created role, Drummond is responsible for leading ACORE’s high-yield strategies and working with the firm’s 28-person originations team to deploy capital across the higher yielding components of the capital stack. He is based in New York City, reports to Chief Executive Officer Warren de Haan, and is a member of ACORE’s Investment Committee.
“Appointing Matt to this important role positions ACORE to further expand and accelerate the growth of our high-yield platform,” said De Haan. “Institutional investors are expressing strong demand for these types of products, and Matt’s experience leading successful investments across a range of high yielding strategies will materially accelerate our ability to deploy capital into investments that have the potential to deliver equity like rewards at debt like risk.”
Drummond joins ACORE from Affinius Capital (“Affinius”) where he co-led its opportunistic and preferred equity strategies. In this role, he was responsible for strategy development, capital formation and the sourcing, structuring and closing of new investments across a broad range of asset classes and levels of the capital structure including common equity, preferred equity, mezzanine financing and first mortgage debt. Drummond was also responsible for the oversight of business plan execution and portfolio management of many of Affinius’ funds and separate accounts.
“I look forward to working with such a talented team and leveraging my expertise to grow the firm’s opportunistic credit strategy and launch other high-yield strategies that make ACORE’s value proposition to investors and the commercial real estate community even more compelling,” said Drummond.
Drummond is the latest high-profile industry executive to join ACORE’s senior leadership team following the recent appointments of Michael Wilkinson as Chief Financial Officer and Brian Abbott as Head of Asset Management. Adding high-caliber senior talent to its deep bench of commercial real estate professionals is part of ACORE’s plan to further bolster its competitive edge, broaden its investor base and expand its investment capabilities.
De Haan concluded, “We believe the vintage of commercial real estate investing over the next two to three years will be the most attractive in decades. We are aggressively making strategic investments to ensure we have the right resources and structure in place to capitalize on the compelling investment opportunities we identify.”
Drummond was selected as the result of a rigorous search process led by ACORE’s executive team. Highridge Search, a global executive search firm specializing in real estate and hospitality, advised ACORE on the search.
About ACORE Capital
ACORE Capital, LP is one of the leading U.S. commercial real estate debt managers with approximately $20 billion of assets under management. With offices in New York, Los Angeles, Miami, San Francisco and Dallas, ACORE originates, acquires and manages first mortgages, B-notes, mezzanine debt and preferred equity. ACORE’s success has been fueled by its long-standing industry relationships and access to a consistent pipeline of origination opportunities. For more information, please visit www.acorecapital.com.
