TPG RE Finance Trust Announces Leadership Transition
TPG RE Finance Trust (NYSE: TRTX) announced the retirement of CEO Greta Guggenheim effective March 31, 2021. Matthew Coleman, the current President, will take over daily management immediately. The Board will begin searching for a new CEO to lead the next growth phase. Guggenheim will serve as a Senior Advisor during the transition. Coleman brings extensive experience, having been with TRTX since its inception. He aims to continue the company's strategic focus and growth objectives, ensuring long-term value for shareholders.
- Matthew Coleman is an experienced leader, having been with TRTX since its inception.
- Guggenheim's contributions included successful public offerings and increased originations.
- Concerns about continuity due to CEO transition.
- Potential gaps in leadership experience during the transitional phase.
TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) announced today that Greta Guggenheim will retire from her role as the Company’s Chief Executive Officer and Board Member, effective March 31, 2021. Matthew Coleman, who currently serves as the Company’s President, will assume day-to-day responsibility for the Company’s management, effective immediately. TPG, in conjunction with the TRTX Board of Directors, will promptly commence a search for a Chief Executive Officer for the Company’s next stage of growth.
“On behalf of the Board, I want to recognize Greta for her contributions to TRTX over the last five years,” said Avi Banyasz, Co-Head of TPG Real Estate and Chairman of the Board of TRTX. “Her dedication and leadership have been important in establishing the Company as a leading real estate debt franchise.”
“Matt is an industry veteran who has been involved with TRTX for many years,” continued Banyasz. “His institutional knowledge, insight, and expertise make him the right leader to guide the Company through this time of transition and into its important next chapter of growth.”
Coleman has been an officer of TRTX since its inception and was appointed President in July 2020. He is a Partner of TPG and will continue in his role as Chief Operating Officer of TPG Real Estate. Prior to joining TPG in 2012, Coleman served as a Senior Vice President in the real estate private equity group at D. E. Shaw & Co. From 2000 through 2005, Coleman was an attorney in the New York City office of Cravath, Swaine & Moore LLP. He currently serves on the Boards of Directors of Bluegrass Senior Living, Tempore Properties, and Campus Student Housing.
“I’m fortunate to have been part of TRTX’s journey since its founding and am excited to continue serving the Company during this transition,” said Coleman. “Looking ahead, we remain focused on executing our strategy and delivering on our objectives to continue serving our clients, growing our platform, and generating long-term value for our shareholders.”
A career-long lender, Guggenheim joined TPG in 2016 to build and grow the firm’s newly formed real estate debt platform. She led the Company through a successful public offering just one year into her tenure while meaningfully increasing originations and establishing a deep bench of experienced lending professionals. At the Firm’s request, Guggenheim will serve as a Senior Advisor to TPG during a transition period.
“I want to thank TPG and the TRTX team for their commitment and support,” said Guggenheim. “I am incredibly proud of what we’ve accomplished and know that the Company is well positioned for continued success.”
ABOUT TRTX
TPG RE Finance Trust, Inc. is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States. The Company is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate, which is the real estate investment platform of global alternative asset firm TPG. For more information regarding TRTX, visit http://investors.tpgrefinance.com/.
FORWARD-LOOKING STATEMENTS
The information contained in this press release contains “forward‐looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to various risks and uncertainties, including, without limitation, statements relating to the performance of the investments of the Company; the ultimate geographic spread, severity and duration of pandemics such as the recent outbreak of novel coronavirus (“COVID-19”), actions that may be taken by governmental authorities to contain or address the impact of such pandemics, and the potential negative impacts of such pandemics on the global economy and the Company’s financial condition and results of operations; the Company’s ability to originate loans that are in the pipeline and under evaluation by the Company; and financing needs and arrangements. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “believe,” “could,” “project,” “predict,” “continue” or other similar words or expressions. Forward-looking statements are based on certain assumptions, discuss future expectations, describe existing or future plans and strategies, contain projections of results of operations, liquidity and/or financial condition or state other forward-looking information. Statements, among others, relating to the continuing impact of COVID-19 on the Company’s business, financial condition and results of operations and the Company’s ability to generate future growth and deliver returns are forward-looking statements, and the Company cannot assure you that TRTX will achieve such results. The ability of TRTX to predict future events or conditions or their impact or the actual effect of existing or future plans or strategies is inherently uncertain. Although the Company believes that such forward-looking statements are based on reasonable assumptions, actual results and performance in the future could differ materially from those set forth in or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company’s views only as of the date of this press release. Except as required by law, neither the Company nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements appearing in this press release. The Company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
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