Real Estate Capital Partners (RECAP) of New York City has hired Thomas Etzel as managing director and head of strategy and business development.
Etzel (pictured) will split his time between New York and Germany, leading the firm’s expansion into European real estate investments.
In a related move, RECAP has promoted two of its longtime executives to join the management committee with Etzel.
Paul Doocy has been promoted from executive vice president to chief investment officer.
Andre Kinney has been promoted to chief operating officer, while retaining his previous role as head of asset management.
Etzel will chair RECAP’s newly formed management committee driving the firm’s strategy and day-to-day operational activity, and will serve on the executive committee along with Doocy, Kinney, Sylvia Gross, Michael Fruchtman, Robert McGee, and Karin Shewer. Shewer, founding partner of RECAP, will assume the role of chairman of the RECAP board, while continuing to focus on investor marketing, business development, and strategic initiatives.
Etzel brings 22 years of global real estate and private equity investment and product development experience to RECAP, having served most recently as managing director of BHF/BANK and head of alternative investments. He has had responsibility for more than 40 global BHF real estate, private equity, and mezzanine funds, as well as 15 residential and commercial real estate developments in Germany.
“We have worked very closely with Thomas since we began this company in 1989, and believe that his joining our team will enhance our ability to address the globalisation of the investment world,” says Shewer. “We know that our investors seek diversification in their investments, and we intend to meet those needs while continuing to deliver superior results.”