The Real Deal New York

Kushner brothers’ Cadre partners with Goldman Sachs in $250M deal

Bank’s wealth management clients to invest through real estate platform
January 10, 2018 02:45PM

From left: Jared Kushner, Lloyd Blankfein and Ryan Williams

Cadre, the real estate crowdfunding startup co-founded by Jared and Joshua Kushner, is partnering with Goldman Sachs. The bank’s private wealth management clients can now invest in real estate through Cadre’s platform and have already committed $250 million, Reuters reported.

Cadre buys into commercial properties and then puts small stakes up for sale on its members-only platform for wealthy, accredited investors. The firm markets itself as a cheaper, more transparent alternative to real estate funds managed by private equity firms and claims to have closed more than $1 billion in property deals.

Jared and Joshua, the founder of Thrive Capital, co-founded Cadre with Ryan Williams, a Blackstone Group and Goldman Sachs alum and Cadre’s current CEO. Kushner reportedly omitted his stake in disclosure forms when he joined the White House as a policy adviser last year.

The $250 million investment is the largest commitment Cadre has received to date, and the firm is in talks with Goldman’s clients to raise even more money, Williams told Bloomberg. Cadre hopes to double its inventory and volume over the next year, Williams added.

In June, Cadre raised $65 million in a venture funding round for an $800 million valuation. One of the investors was Goldman Sachs. [Reuters, Bloomberg]Konrad Putzier