Black Creek Group Names Raj Dhanda as First CEO
May 7, 2018 | James Sprow | Blue Vault
Black Creek Group, a Denver-based real estate investment management firm with approximately $7.9 billion in US assets under management, announced the appointment of Raj Dhanda as its first chief executive officer. The creation of the CEO role and promotion of Mr. Dhanda, who was previously president of Black Creek Group, reflects the imperative to develop new products and investment vehicles, coordinate the investment process, multichannel product distribution, and operations of the firm’s six US offices and its portfolio of properties across the country.
“Over the last two-and-a-half decades, we’ve refined a deliberate and repeatable investment process while still fostering a nimble, entrepreneurial operating culture,” said Black Creek Group Co-Founder Jimmy Mulvihill. “With his significant executive experience at a leading investment bank and deep understanding of key distribution channels, we know Raj is the right person to tie it all together into a world-class commercial real estate firm.”
“I’m inspired by the opportunity set ahead of us—both in this phase of the market cycle and at this firm,” said Mr. Dhanda, a 26-year veteran of Morgan Stanley who most recently was head of investment products and services in the firm’s wealth management division before joining Black Creek Group in late 2016. Dhanda said he expects Black Creek Group to continue creating and managing institutional-quality commercial real estate investment products, but he wants to make them more accessible to individual investors via intermediary channels while continuing to serve the firm’s institutional clients.
About Black Creek Group
Black Creek Group is an experienced real estate investment management firm that has bought or built approximately $18 billion of investments over its 25-year history. The company manages diverse investments across the spectrum of commercial real estate – including office, industrial, retail and multifamily. The company has nine offices across North America with more than 300 professionals. Black Creek Group offers a range of investment solutions for both institutional and wealth management channels.
According to Blue Vault’s Q4 2017 NTR Industry Review, Black Creek Group currently has two active nontraded REIT programs including Black Creek Diversified Property Trust Fund Inc. which is a daily NAV REIT and has $1.6 billion in assets, and Black Creek Industrial REIT IV, Inc., a new REIT with just $12.5 million in assets as of December 31, 2017. Industrial Income Trust, Inc. completed a full-liquidity event in December 2017 after merging with Western Logistics and completing the sale of its final 11 properties held out from the merger.
More information is available at www.blackcreekgroup.com.
Source: Black Creek Group press release May 7, 2018, Blue Vault Partners
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