Goldman Sachs CMBS banker to start fund

摘要

The co-head of US commercial real estate finance at Coldman Sachs has left to start a new fund that will invest in real estate debt, sources familiar with the matter told IFR. Jonathan Strain has been a key figure in the US$588bn CMBS market after decades of originating commercial mortgage loans and selling securities to investors. He joined Goldman about two years ago from JP Morcan, where he was head of CMBS capital markets. After Strain's gardening leave ends in August, he is expected to target investments in new CMBS B-pieces and mezzanine commercial real estate loans. B-pieces are the riskiest 5% of securities in a CMBS deal that shoulder the first dollars of loss if any loans in a securitised pool sour.