Wrightwood Capital, a Chicago-based real estate finance and investment firm, has acquired the investment fund management team of Hanover Financial Co. The transaction includes the transfer of capital commitments from investors of Hanover Real Estate Partners Fund III into the Wrightwood Capital High Yield Partners II Fund, including affiliates of an insurance company and a private pension plan.
Michael Lowinger and Mark Macedo, principals and founders of Hanover Financial, will join Wrightwood Capital's fund management team and be based in Los Angeles. Hanover Financial, a joint venture capital source, was founded in 1999 by Michael Lowinger and Mark Macedo.
‘They have successfully built a highly regarded and well-respected fund management and investment origination platform,’ states Bruce R. Cohen, CEO of Wrightwood Capital. ‘We saw the success Mark and Michael have had not only in their ability to raise funds, but also in the track record they have with their investment strategy, as a logical extension at this time in the market, and one that would allow Wrightwood to leverage their expertise and capabilities as we look to continue to expand our investment platform in the western U.S.’
Source: Wrightwood Capital