CIM Group has tapped industry expert Barry Schanker to help deepen its reach in private investment channels.
The Los Angeles-based investment firm named Schanker as managing director and head of the dedicated private wealth team.
Schanker brings "deep industry knowledge, longstanding partnerships, and a proven track record in structuring institutional opportunities into innovative solutions for private wealth clients," said CIM Group Principal Emily Vande Krol, who manages CIM's global client group, in a statement.
The appointment signals how real estate firms like CIM are tapping private capital channels as institutional loans become harder to secure.
CIM has stated that its long-term goal is to achieve a 50-50 balance between capital raised from institutional investors and from high-net-worth and individual investors.
That shift began in earnest six years ago, when the firm acquired Cole Capital, an investment manager with $7.6 billion in assets at the time.
Schanker joined CIM with more than 30 years of investment experience spanning real estate, infrastructure, private equity, private credit and hedge funds. His résumé includes leadership roles at Skybridge Capital, Citigroup Alternative Investments and Salomon Smith Barney.
Most recently, he served as managing director and head of wealth solutions and client portfolio management at FS Investments, where he built out the firm’s private wealth investment strategies and client service initiatives. Prior to that, he led U.S. wealth efforts at Man Group, spearheading its push into the high-net-worth space.