Jon Banister, Bisnow Washington, D.C.
New York City-based Compound Asset Management announced this week its principals are raising money for a new fund aimed at buying shares in real estate companies hit hard by the stock market rout that they expect will recover.
The fund, called the Compound Recovery Opportunity Fund, will focus on real estate businesses in the hospitality and leisure sectors. It is being managed by Compound principals Janine Yorio, Manish Shah and Jesse Stein.
Compound, founded in late 2017, pools money from retail investors to buy residential properties in fast-growing cities. Yorio said the idea for the fund came to them in the office as they were watching the stock market plummet and realized they needed to change their investment strategy. Read more at: https://www.bisnow.com/national/news/economy/inves...