Washington-based investment powerhouse The Carlyle Group has appointed Adam Metz as its first head of International Real Estate, a new position, hiring him away from rival investment management firm TPG Capital Management, where Metz was a senior advisor to TPG’s real estate group.
Prior to TPG, Metz was CEO of General Growth Properties (GGP) when the mall owner filed for Chapter 11 bankruptcy protection in April 2009, then the largest bankruptcy in U.S. history. GGP was forced to declare bankruptcy after it was unable to refinance $15 billion of property-level debt, the majority of which was structured as commercial mortgage backed securities (CMBS). Metz is credited with leading the mall owner through the complex process.
Metz will join the firm in October and will be based in Washington, DC. Carlyle manages $12.3 billion in ten real estate funds and related investment vehicles that invest in a range of real estate assets in Asia, Europe and the U.S.
"Real estate is one of the largest asset classes in the world and Adam will lead our efforts to expand the depth and breadth of Carlyle’s international footprint," said Carlyle Chairman Daniel A. D’Aniello in a statement announcing the new position.
In addition to his previous positions with TPG and GGP, Metz was a co-founding partner of Polaris Capital, LLC. He was also executive vice president and chief investment officer of Rodamco North America, and had been president, chief financial officer and director of acquisitions for Urban Shopping Centers.
He earned his master’s degree in management from Northwestern University and a BA in history from Cornell University.