Key Takeaways
- • Taconic Capital Advisors is winding down its commercial real estate operation, according to people familiar with the matter reported by Bloomberg.
- • The firm 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.
- • Jordan is expected to bring the latest vintage of Taconic's CRE fund, which has about $200 million in 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, as reported by Bloomberg on December 18, 2024. The people asked not to be identified because they were discussing confidential information.
James Jordan, who oversees the business, will leave the hedge fund firm 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 moves signal a strategic retreat from commercial real estate by Taconic, a multi-strategy hedge fund manager, while Axonic adds a senior real estate leader and a fund with roughly $200 million in commitments. Further terms of the proposed fund sale, including price, were not disclosed in the reporting.
James Jordan, who oversees the business, will leave the hedge fund firm 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 moves signal a strategic retreat from commercial real estate by Taconic, a multi-strategy hedge fund manager, while Axonic adds a senior real estate leader and a fund with roughly $200 million in commitments. Further terms of the proposed fund sale, including price, were not disclosed in the reporting.
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