NEW YORK, May 16, 2023 – Sycamore Partners, a leading private equity firm, has announced the appointment of Sandeep Mathrani as Director. Mathrani, formerly the Chief Executive Officer of WeWork and CEO of Brookfield Properties’ retail group, joins Sycamore Partners to spearhead its real estate activities and enhance the firm’s expertise in the sector. This strategic move underscores Sycamore Partners‘ commitment to optimizing real estate assets within its portfolio companies and leveraging real estate as a significant value driver.
Stefan Kaluzny, Managing Director of Sycamore Partners, commented on the appointment, stating, “We are delighted to welcome Sandeep to the Sycamore Partners team. Real estate underwriting has always been a core competency at the firm as we evaluate investment opportunities. In today’s market, real estate represents a crucial avenue for value creation, and Sandeep’s extensive operating experience across market cycles will be invaluable. We are confident that his deep real estate knowledge will significantly strengthen our ability to unlock value across our portfolio.”
Mathrani also expressed his enthusiasm about joining Sycamore Partners, “I am honored to become a part of Sycamore Partners. The firm has established an exceptional reputation for fostering profitable growth in prominent retail and consumer brands. I am eager to collaborate with my new colleagues and contribute to building upon the firm’s strong foundation and capabilities.”
Sandeep Mathrani: A Profile in Real Estate Leadership
Sandeep Mathrani brings a wealth of experience to Sycamore Partners. Prior to joining, he served as Chief Executive Officer of WeWork from February 2020, and was later appointed Chairman of the Board in March 2022. His leadership at WeWork followed a distinguished tenure as Chief Executive Officer of Brookfield Properties’ Retail Group and Vice Chairman of Brookfield Properties.
Notably, Mathrani spent eight years as Chief Executive Officer of GGP Inc., guiding the company through substantial growth after its recapitalization in 2010, culminating in its acquisition by Brookfield Property Partners in 2018. Before GGP, Mathrani was President of Retail for Vornado Realty Trust, where he managed the company’s U.S. retail real estate portfolio and operations in India, primarily consisting of office properties, successfully stabilizing and expanding the portfolio. His early career includes eight years as Executive Vice President at Forest City Ratner, where he initiated and developed a new retail property platform across New York City’s five boroughs.
Currently, Mr. Mathrani serves on the boards of directors of Dick’s Sporting Goods, Tanger Factory Outlet Centers, Inc., and Bowlero. His past board memberships include Host Hotels & Resorts, Inc., and he chaired NAREIT in 2019. He has also held positions on the executive board and board of trustees for the International Council of Shopping Centers (ICSC). Mr. Mathrani’s academic credentials include Bachelor of Engineering, Master of Engineering, and Master of Management Science degrees from Stevens Institute of Technology.
About Sycamore Partners: Investing in Retail and Consumer Brands
Sycamore Partners is a New York-based private equity firm focused on investments in retail, consumer, and distribution-related businesses. Sycamore Partners collaborates with management teams to enhance the operational efficiency and strategic value of its portfolio companies. Since its inception in 2011, Sycamore Partners has raised approximately $10 billion in aggregate committed capital from leading institutions, including endowments, financial institutions, family offices, pension plans, and sovereign wealth funds. For further details about Sycamore Partners, please visit www.sycamorepartners.com.
Contact Information:
Sycamore Partners
Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[Email protected]
SOURCE Sycamore Partners
