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Alternative Assets  + Private Debt  + Real Estate  |  July 15, 2024
TPG Anchors Real Estate Credit Firm
By: Joe Palmisano

TPG Anchors Real Estate Credit Firm

Caro Investors Management, LLC, a new investment management firm founded by Careina Williams, has announced a new partnership with global alternative asset manager TPG.

TPG NEXT will act as a “significant” anchor investor and strategic partner to Caro as part of its objective to seed and accelerate the emergence of “next-generation investment firms,” according to the firms.

Caro’s maiden real estate private credit strategy deploys capital into middle-market private debt investments with underlying commercial real estate exposure in asset classes, including multifamily, industrial, investment-grade retail, and other defensive real estate sectors.

Headquartered in Chevy Chase, MD, the firm was founded in 2024 by Williams, who serves as managing partner. Through its partnership with TPG, Caro will benefit from procurement, talent acquisition, capital formation, investment sourcing, and diligence.

“With Caro Investors, we intend to fill a growing void of institutional investment management firms addressing middle-market investment opportunities in real estate equity and credit,” said Williams.

San Francisco-based TPG has $224 billion of assets under management across private equity, impact, credit, real estate, and market solutions.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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