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New York & Tri-State  + Finance  | 

AllianceBernstein’s RE Equity Platform Completes Spin-off

AllianceBernstein’s real estate private equity platform has completed its spin-off into a new joint venture, to be known as Prospect Ridge Advisors LLC. It comes into being with the management team from the AB platform, led by Brahm Cramer and Jay Nydick.

Prospect Ridge will continue to manage the two commingled AB U.S. Real Estate Partners funds, which have acquired $6.8 billion of real estate assets since its inception a decade ago. AB’s real estate debt business, led by Roger Cozzi, will continue as part of the AB platform.

“While we begin our next chapter with a new name, what’s not changing is our team, our investment process and the high level of service and attention to detail that we provide our investors,” said Nydick. “We believe the dislocation that is beginning to appear in today’s real estate landscape presents a well-timed opportunity to expand our differentiated platform.”

Pictured: Prospect Ridge headquarters

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Sale/Acquisition
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