Key Takeaways
- • Taconic Capital Advisors is winding down its commercial real estate operation, according to people familiar with the matter.
- • Taconic is in advanced talks to sell one of the unit's funds to Axonic Capital.
- • James Jordan, who oversees Taconic's CRE business, will leave the hedge fund firm in the first half of 2025 and join Axonic, per an investor letter seen by Bloomberg.
- • The fund expected to move with Jordan is the latest vintage of Taconic's CRE fund, which has about $200 million of commitments.
Summary
Taconic Capital Advisors is winding down its commercial real estate operation and is in advanced talks to sell one of the unit's funds to Axonic Capital, according to people familiar with the matter, Bloomberg reported on December 18, 2024.
James Jordan, who oversees the business, will leave Taconic in the first half of next year, according to an investor letter seen by Bloomberg. He is set to join Axonic and is expected to bring with him the latest vintage of Taconic's CRE fund, which has about $200 million of commitments, the people said. The sources asked not to be identified because they were discussing confidential information.
The reported transaction would move Jordan and the fund's commitments from a multi-strategy hedge fund manager that is exiting the sector to Axonic, a firm that is adding real estate capabilities. The report did not disclose the terms of the potential sale or the status of the remaining CRE fund vintages at Taconic.
James Jordan, who oversees the business, will leave Taconic in the first half of next year, according to an investor letter seen by Bloomberg. He is set to join Axonic and is expected to bring with him the latest vintage of Taconic's CRE fund, which has about $200 million of commitments, the people said. The sources asked not to be identified because they were discussing confidential information.
The reported transaction would move Jordan and the fund's commitments from a multi-strategy hedge fund manager that is exiting the sector to Axonic, a firm that is adding real estate capabilities. The report did not disclose the terms of the potential sale or the status of the remaining CRE fund vintages at Taconic.
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