Ex-Equity International boss gets $100M from New York Life

Gary Garrabrant competing with ex-partner Sam Zell for investment capital for real estate bets
October 22, 2014 12:40PM

Jaguar Growth Partners, a private equity firm run by a former business partner of Sam Zell, received $100 million in financing from New York Life Insurance Company.

Former Equity International CEO Gary Garrabrant’s firm raised its debut financial commitment. Jaguar Growth Partners seeks to raise as much as $1 billion, sources told the Wall Street Journal. Garrabrant, who abruptly exited Equity in 2012, has been competing with Zell, who is also looking to raise millions in emerging markets. Zell said in August he hoped to raise $600 million, as previously reported.

Jaguar, founded by Garrabrant and Thomas McDonald in New York last year, want to buy stakes in property firms in India, Latin America and China. New York Life will take a stake in the firm and join the advisory board, according to the Journal. [WSJ, 1st item]Mark Maurer