Kravit Retiring From a Top Post at Cerberus
Ron Kravit, co-head of Cerberus Real Estate Capital’s North America real estate team, is retiring at yearend.
Kravit, a senior managing director, joined the New York investment manager in 1996. Going forward, he will serve as an advisor to the firm and will work with the family office of Cerberus co-founder Stephen Feinberg.
Cerberus tapped Kravit and Thomas Wagner as co-heads of North American real estate four years ago. Wagner will now be the sole head, reporting to global head of real estate Lee Millstein.
Before joining Cerberus, Kravit, who is 61, had stints at Apollo Real Estate and an affiliate of Soros Fund Management. He was a managing director at both New York shops.
Cerberus last year held the final close on its largest real estate fund. The opportunistic vehicle, Cerberus Institutional Real Estate Partners 4, raised $1.8 billion of equity to invest in distressed real estate in the U.S. and Western Europe.