NEW YORK CITY—Company veterans Carey Flaherty and Derek Jacobson have been named co-CIOS at Madison International Realty, where currently both hold the title of managing director. Both Flaherty and Jacobson have been with the New York City -based private equity real estate firm, which is active in both the US and Europe, since the early 2000s.
Each of the two has been integral to all aspects of transaction underwriting, execution and asset management in Madison’s US and European markets. The new title will allow them to expand their roles within the firm, as well as enhance market relationships, says Ronald Dickerman, Madison’s founder and president.
Flaherty joined Madison in 2003 and has held numerous positions across the firm’s platform, including oversight of its global portfolio and asset management function and US investments. Before joining Madison. Flaherty served in the real estate investment banking group at Deutsche Bank, where he analyzed real estate private equity investments along with structured debt products.
Jacobson, who joined Madison in 2004, has overseen the firm’s European investment activities, responsible for origination, underwriting and execution of transactions for Madison’s managed funds. He has worked on all aspects of financial analysis, property due diligence, and transaction structuring, with specific focus on closed-end funds and equity recapitalizations in Germany, the UK. and Madison’s other non -US markets. Prior to coming to Madison, Jacobson was a financial analyst in the acquisitions and underwriting group of RE private equity firm Taurus Investment Holdings.
Dickerman notes that Flaherty and Jacobson are “keepers of the key measures of our strategy that deliver consistent and differentiated returns in the prime property sector and allow us to serve additive roles with our institutional partners. Given the growth of our business across numerous geographies and strategies, including both private and public markets, it was the appropriate next step to continue the systematic and regimented way Madison approaches sourcing, underwriting and execution.”