NEW YORK, NY Investment firm Jadian Capital, LP has closed its first transaction and added of Andrew Fredman and James Walker to the firm.
Founded by Jarret Cohen in 2017, Jadian is an investment firm focused on real estate-related opportunities in assets and companies. Cohen, the former head of private real estate at Fir Tree Partners, worked with Fredman and Walker over the last eight years. While at Fir Tree, Fredman served as a managing partner and chief investment officer through his departure in 2015, and Walker served as managing partner, member of the Real Estate Investment Advisory Committee and chairman of the Risk Committee until his departure in 2016.
“I’m excited that these two innovative investors and mentors are now also partners. Jim and Andrew helped pioneer the approach to real estate investing we pursue at Jadian, and their involvement significantly expands the firm’s capabilities,” said Cohen.
Jadian’s strategy focuses on finding overlooked or undiscovered real estate value, often in asset-intensive operating businesses. The firm’s first transaction, a $40 million preferred equity investment into an amusement park company, will be used to revitalize the company’s largest park and unlock value from its associated real estate. Cohen said, “Through this senior corporate investment, we are accessing two special assets: a trophy park with upside that our investment will help catalyze, and significantly valuable beachfront land in a major market that is prime for repositioning.”
The firm primarily targets niche themes in commercial, residential and alternative sectors. Cohen said, “Some of our best real estate investments have originated in non-real estate sectors. Having a team of folks with experience investing across industries helps us uncover those hidden real estate opportunities.” The presence of Walker and Fredman is expected to enhance this effort greatly, given their diverse experience and successes, including co-founding Fir Tree’s real estate opportunity funds.
Fredman will now serve as a strategic partner to Jadian through IngleSea Capital, his family office investment firm, and will serve as a member of Jadian’s Investment Advisory Committee. At Fir Tree, Fredman managed the investment team and the portfolios of Fir Tree’s funds. He also co-founded Fir Tree’s capital opportunity funds and oversaw Fir Tree’s residential mortgage investment platform.
Walker will serve as senior partner at Jadian and will also sit on Jadian’s Investment Advisory Committee. Prior to Fir Tree, Walker was a co-founder of Black Diamond Capital Management.