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Former CEO of Sam Zell’s Equity International launching firm

Gary Garrabrant and Sam Zell
Gary Garrabrant and Sam Zell

The co-founder and former CEO of Sam Zell‘s real estate investment trust has a new private-equity and consulting firm, the Wall Street Journal reported.

Gary Garrabrant, who left Zell’s Equity International in September, is now heading Jaguar Partners. The business will invest in emerging-market companies in such industries as consumer finance, retail and health care.

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Garrabrant is familiar with emerging-market companies. Zell’s company purchases real-estate-related companies in emerging markets.

Teaming with Thomas McDonald, the former chief strategic officer at Equity International, Garrabrant hopes to raise $100 million, the newspaper said.

Zell and Garrabrant parted ways because of a disagreement over Equity International’s strategy and size, and Garrabant’s salary. The men linked up in the 1990s. [WSJ] –Mark Maurer

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Private EquitySam Zell