NEW YORK, Nov. 19, 2020 /PRNewswire/ -- EquityMultiple, a New York-based wealthtech firm that provides accredited investors with streamlined access to commercial real estate investments, today announced a series of growth trends that have continued throughout 2020, amid challenging economic conditions.
EquityMultiple recently added Christian Mundigo to its Board of Advisors. Mr. Mundigo is a senior finance executive with broad US and international leadership in fixed income, credit risk management, and corporate development. His career includes a 23-year tenure with BNP Paribas, where he most recently served on the Global Fixed Income Executive Committee as Co-Head of Fixed Income, Americas and Global Head of Rates. Christian was also the Founding Chairman of the European Primary Dealers Association (EPDA), a board member of the Bond Market Association, and Co-Chair of the Rates Committee of the Association for Financial Markets in Europe (AFME) and the Securities Industry and Financial Markets Association (SIFMA). He served on the Board of Directors of Markit as it went public. In 2014, Christian founded Ackert Hook Holdings, a commercial real estate development and fintech investment firm.
Christian joins Ken Pasternak--the founder and former CEO of Knight Trading Group--and other real estate industry leaders on EquityMultiple's advisory board, a testament to the soundness of EquityMultiple's business model, track record, and maturation as an industry leader.
EquityMultiple has also exhibited sustained, robust growth in its real estate investment offerings throughout 2020. A few recent highlights:
By offering several private real estate funds, EquityMultiple has complemented its existing "direct" investment approach. This includes a perpetual fund alongside one of the world's preeminent commercial real estate investment firms. EquityMultiple's private fund offerings bring investors even greater diversification potential.
EquityMultiple is on pace to deliver over $26M in distributions to investors this year, doubling its 2019 figure and keeping with a history of triple-digit growth in distributions each year since 2016.
EquityMultiple's total number of investments grew by 37% despite challenging macroeconomic conditions. Its volume of dollars invested grew by 34% quarter-over-quarter in Q3.
This most recent quarter was EquityMultiple's largest quarter ever in terms of new investors participating on its platform.
EquityMultiple successfully exited three preferred equity investments in October, a result of the firm's Asset Management Team executing on favorable early takeouts. EquityMultiple's IRR on realized preferred equity investments now stands at 14.3%.
EquityMultiple looks forward to making key hires in real estate and investor relations roles to further the firm's goal of making real estate investing simple, accessible, and transparent. The addition of Mr. Mundigo to EquityMultiple's board of advisors reflects a belief that the firm is well positioned to grow as the recovery from COVID-19 takes shape.
Remarked CEO Charles Clinton, "In terms of what we offer investors, our business has always been built to provide value even (and maybe especially) amid market upheaval. Because we live with each investment we offer for the life of the investment, our decision-making around what types of investments to offer tends to be very methodical. With several recent successful exits, we see validation in our disciplined approach to underwriting and asset management. At the same time, the breadth and reach of our origination means that we can continually tap into a diversity of distressed opportunities on behalf of our investors."
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