Strategic Value Partners – a global alternative investment firm focused on opportunistic credit opportunities with over $18 billion of assets under management – announced the appointment of Mike Ungari as Head of Real Estate to lead the firm’s global real estate business and portfolio. Ungari will also serve on SVP’s Management Council and Investment Committee.
Ungari joins SVP after 16 years at Goldman Sachs, where he held several leadership roles – including most recently working as a Partner, managing the firm’s opportunistic and value-add real estate portfolio in the U.S. While working at Goldman, Ungari was involved in over $19 billion of complex real estate transactions across equity, development, opportunistic credit and take privates across all asset types. And Ungari also spent over ten years in Goldman Sachs’ Special Situations Group, including heading the Asset Investing team – which focused on commercial real estate, consumer and transportation assets. Before Goldman Sachs, Ungari was at GE Asset Management in the Real Estate Group. He started his career with Accenture.
In the past 20 years, SVP substantially built out its real estate platform in the U.S. and Europe and now has a team of 10 dedicated professionals globally. And since the Global Financial Crisis in 2008, SVP’s funds deployed about $3.5 billion into distressed real estate opportunities, including about $2.4 billion since the start of COVID in 2020. In 2021, SVP funds led the restructuring and subsequent acquisition of Washington Prime Group, which is a U.S. REIT with a portfolio of about 90 retail assets.
KEY QUOTE:
“We are delighted that Mike has joined Strategic Value Partners. He brings significant expertise in sourcing and executing complex transactions across multiple cycles, as well as an intuitive understanding of the opportunistic credit space. His track record of building high-performing teams, alongside his robust network, makes him the ideal person to take our real estate business forward as we realize the ever-expanding opportunities ahead of us.”
– Victor Khosla, SVP’s Founder and Chief Investment Officer
