NEW YORK, NY--(Marketwire -04/12/12)- Investment firm W. P. Carey & Co. LLC (NYSE: WPC - News) has announced the appointment of Jason Fox and Gino Sabatini as Co-Heads of Global Investments. Mr. Fox will oversee the firm's international acquisitions activities, including investment teams based in the firm's European and Asian offices as well as business development initiatives in other international markets. Mr. Sabatini will oversee North American acquisitions activities, which include the United States and Canada. Both Mr. Fox and Mr. Sabatini will continue to be based in the firm's New York office. The firm also announced the departure of H. Cabot Lodge, III, who had served as Head of European Investments. The European team will continue to be led on the ground by senior investment officers Jeffrey LeFleur, Jennifer Lucas, and Arvi Luoma.
Regarding the appointments of Jason Fox and Gino Sabatini, W. P. Carey President and CEO Trevor Bond noted, "As our international investment strategy expands beyond Europe and becomes increasingly global, our challenge is to balance risk and reward on a global basis while maintaining the hands-on deal focus that has contributed to our success for nearly 40 years. Consolidating our regional acquisitions teams under a single management structure will allow us to achieve this goal. With Gino and Jason having effectively co-managed the Domestic Investment Team for the past two years, they were the ideal choice to share oversight of the consolidation, coordination and ongoing management of our global investment activities. With nearly 25 years of company experience between them, they represent the depth and breadth of successful deal history that has allowed us to continue to diversify our acquisitions on behalf of the Company and our CPA series of investment funds."
Mr. Bond added, "The worldwide application of Gino and Jason's knowledge of the sale-leaseback business and the disciplined investment process that distinguishes W. P. Carey from other investors is a tremendous asset for the company, its shareholders and the investors in our non-traded REITs. Their strengths as leaders, mentors and proven dealmakers is emblematic of the caliber and quality of individuals W. P. Carey is able to draw on in all areas of our business. We congratulate them on their new responsibilities."
Mr. Bond also noted, "We wish Cabot well as he starts his own advisory business. He did an outstanding job for the Company overseeing our European investments during these past two years. We're pleased that he will remain as a board member of our UK subsidiary, W. P. Carey & Co. Ltd. Despite the challenges in the European economy, we continue to identify potential investments in Europe and have a seasoned and talented team in place to execute on them."
Jason Fox joined the W. P. Carey Investment Department in 2002 and has served in various positions of increasing responsibility since then. A magna cum laude graduate of the University of Notre Dame, Mr. Fox earned his MBA from Harvard Business School.
Gino Sabatini joined the W. P. Carey Investment Department in 2000. He is a graduate of the University of Pennsylvania, where he earned both a B.Sc. in Mechanical Engineering from the Engineering School and a B.Sc. in Economics from the Wharton School. He received an MBA from Harvard Business School.
W. P. Carey & Co. LLC
W. P. Carey & Co. LLC (NYSE: WPC - News) is an investment management company that oversees a global investment portfolio of $12 billion. W. P. Carey provides companies worldwide with long term sale leaseback and build to suit financing and engages in other types of real estate-related investment. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of income-generating, non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group's investments are highly diversified, comprising contractual agreements with approximately 288 long term corporate tenants spanning 28 industries and 18 countries. www.wpcarey.com
This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the Company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company's filings with the Securities and Exchange Commission.
- Jason Fox