People Moves
Who's Moving Where In Wealth Management? – LRE Management
The latest senior moves, appointments and personnel changes in the North American wealth management market.
Patrick Cantlay (pictured), a top-10 world ranked professional golfer who competes on the PGA Tour, has become an investor and general partner in a fund run by LRE Management.
The sportsman is joining LRE’s inaugural LRE Opportunity Fund I; he is also a member of the company’s newly-formed advisory board.
LRE Management, which is privately held, runs real estate investments for family offices, ultra-high net worth investors and small and medium-sized institutions. It focuses on Sun Belt and Midwest regions for its investments.
In parallel with Cantlay’s arrival, LRE confirmed that it is buying a 778-unit, three-property multi-family portfolio located in Atlanta, Georgia – the new fund’s first investments.
“Outside of my focus on professional golf, I have always been interested in real estate investing, particularly multi-family properties given their resiliency throughout the economic cycle and high long-term performance,” Cantlay said. “Having primarily played more of an LP [limited partner] role in my existing real estate investments, the timing feels right to take the next step in this parallel career.”
The firm said that with multi-family property values in March 2024 falling by about 20 per cent from their peak in June 2022 (source: Costar), it is moving fast to deploy capital in select markets across the US.
