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.
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