Launching Next Phase of Strategic Growth Plan, Cadre Founder Ryan Williams Steps into Executive Chairman Role, Appoints Jared Kaplan as Cadre’s next CEO

Rhea-AI Summary

Ryan Williams, Founder of Cadre, transitions to Executive Chairman as Jared Kaplan, former CEO of OppFi, is appointed as the new CEO. Kaplan brings extensive fintech experience, aiming to accelerate Cadre's growth and expand its investment offerings for diverse investors. Cadre has achieved a significant milestone, closing over $5 billion in real estate transactions and a 75% year-over-year growth in individual investors. This leadership change is expected to strategically enhance partnerships and product development at Cadre.

Positive

• Appointment of Jared Kaplan as CEO brings extensive fintech experience to Cadre.
• Kaplan's leadership expected to drive growth and expansion of investment products.
• Cadre has closed over $5 billion in real estate transactions, showcasing strong market presence.
• Individual investor base has grown nearly 75% year-over-year.

Negative

• Transition period may lead to potential disruptions in strategic initiatives.

Kaplan, former CEO of OppFi and Co-Founder of Insureon will lead Cadre’s next chapter as Williams also assumes role of Co-Chairman of Global Investment Committee

NEW YORK--(BUSINESS WIRE)-- Ryan Williams, Founder and CEO of Cadre, today announced his decision to assume the roles of Executive Chairman and Co-Chairman of Cadre’s Global Investment Committee, and to appoint Jared Kaplan, an entrepreneurial executive with extensive operating experience leading fintech firms, as Cadre’s next CEO.

Ryan Williams, Founder, Executive Chairman and Co-Chairman of Global Investment Committee, Cadre (Photo: Business Wire)

Jared Kaplan brings deep operational expertise and track record of success -- leading multiple companies to successful exits and expanding access to financial services and products – and will complement Williams’ areas of excellence around business development partnerships accelerating Cadre’s next chapter of growth. Kaplan takes on the role at a critical juncture in Cadre’s evolution, as Cadre launches new products to reach both accredited and non-accredited investors, while also expanding the breadth of alternative investment offerings available on Cadre’s platform.

The move also positions Williams to focus on key drivers of business growth for Cadre, including closing new institutional partnerships, strategic financing arrangements, incubating new investment products, and accelerating the diversity of Cadre’s investor and partner base through the launch of the Cadre Foundation. Williams will also oversee Cadre’s investment committee alongside Mike Fascitelli, former CEO of Vornado Realty Trust.

“Technology is a powerful catalyst for change, accelerating the process of breaking down barriers and creating access for more people to historically walled-off investment opportunities,” said Williams. “It’s been extremely rewarding to see how far we’ve come since 2014, having built the leading online platform for real estate investing. At this stage in our growth, with the trust of our investors and continued outperformance of our assets, we are writing our next chapter. I will be as involved as ever in the strategic direction of the company, forging partnerships, and leading our investment growth strategies. Jared Kaplan is the perfect leader to join as our next CEO and we will work closely alongside each other to fulfill our company’s vision. Jared brings exceptional operational strength from his stewardship of three fintech companies already, and I know we’re going to make a tremendous team. I am thrilled to work with a leader that is aligned with our company vision and company values.”

“It’s an honor to unite with an exceptional visionary founder in Ryan, a phenomenal group of investors, real estate operators and employees,” said incoming CEO Jared Kaplan. “Creating access for underserved communities has been a common theme throughout my career. Ryan, our leadership team, and I form a dynamic team to continue advancing Cadre’s vision by building proprietary technology to empower wealth creation for all classes of investors.”

Williams founded Cadre in 2014 with a vision of promoting financial prosperity for all by expanding access to real estate investing. The hiring of Kaplan comes as Cadre has reached new heights of success: having now closed 12 successful realizations that taken together would cumulatively generate more than a 25% net annualized rate of return¹; making a string of world-class leadership hires, including a new CMO, Head of Engineering and Head of Product; scaling the company’s individual investor base nearly 75% year-over-year; and eclipsing $5 billion in real estate transactions closed across nearly 25 U.S. markets. Cadre continues to be the gold standard for online commercial real estate investing available to both institutional and individual investors.

Kaplan brings a deep track record of leading pioneering fintech companies. He currently serves on the Board of Directors of OppFi, Inc (NYSE: OPFI), a financial technology platform that facilitates credit access for everyday consumers. During his six year tenure as OppFi’s CEO, Kaplan led OppFi through its public listing in 2021, achieving rapid, profitable growth from 15 to 600 employees and from $8 million to $400 million in revenue. Prior to OppFi, Kaplan was co-founder and Executive Vice President of Insureon, the leading online agency to help small businesses access better-priced business insurance. At Insureon, Kaplan helped the company achieve over 1,700% revenue growth while building its customer base to more than 175,000 small businesses. Insureon was acquired by Hub International and Bold Penguin in May 2022.

About Cadre

Cadre is a groundbreaking technology-driven commercial real estate investment platform that offers both institutional and individual investors the opportunity to access expertly curated real estate assets with lower minimums, low fees, and unprecedented potential for liquidity. Via its data-driven and transparent approach, Cadre opens participation in a historically opaque and illiquid asset class.

Along with its traditional investment offerings, Cadre also provides investors with the ability to pursue highly vetted commercial real estate opportunities and the opportunity to seek liquidity through its proprietary secondary market, a unique offering within the industry.

For additional information, please visit www.cadre.com.

Disclaimer

Not Advice: This communication is not to be construed as investment, tax, or legal advice in relation to the relevant subject matter; investors must seek their own legal or other professional advice.

Performance Not Guaranteed: Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections are not guaranteed and may not reflect actual future performance.

Risk of Loss: All investments involve a high degree of risk and may result in partial or total loss of your investment.

Liquidity Not Guaranteed: Investments offered by Cadre are illiquid and there is never any guarantee that you will be able to exit your investments on the Secondary Market or at what price an exit (if any) will be achieved.

1 - Annualized rate of return is an IRR calculation that represents an equity-weighted average annualized internal rate of return (IRR) for realized direct real estate investments offered by Cadre since the formation of our Investment Committee through to the date of calculation, after deduction of fees and expenses. For recently realized investments, an estimate of proceeds to vehicles managed by Cadre may be used. The use of a different methodology may result in a materially different return metric. Please see https://cadre.com/track-record/ for additional details and information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220623005370/en/

Media

David Meadvin

cadre@laurelstrategies.com

Source: Cadre

FAQ

Who is the new CEO of Cadre?

Jared Kaplan has been appointed as the new CEO of Cadre.

What position does Ryan Williams hold after the leadership change at Cadre?

Ryan Williams will assume the roles of Executive Chairman and Co-Chairman of the Global Investment Committee.

What industry experience does Jared Kaplan bring to Cadre?

Jared Kaplan has extensive experience in fintech, having previously led OppFi as CEO.

What are Cadre's recent achievements under its new leadership?

Cadre has surpassed $5 billion in real estate transactions and increased its individual investor base by nearly 75% year-over-year.

What strategic focus will Ryan Williams have moving forward?

Ryan Williams will focus on closing new institutional partnerships and expanding Cadre's investment products.