Cross Lake Partners announced its spin-out from Paulson & Co. Cross Lake has approximately $1 billion of existing assets under management (AUM) deployed across 28 current portfolio investments.
Led by Michael Barr and Jonathan Shumaker, managing partners, the Cross Lake real estate team will continue to manage the real estate portfolios of two existing funds on behalf of institutional investors.
Barr and Shumaker have worked together since 2004 and collectively have more than 40 years of investing experience across a broad array of real estate asset classes and U.S. markets. Prior to forming Cross Lake, the real estate team sourced, structured and executed on a wide range of transactions, including single assets, portfolios and entity-level investments. Notable transaction experience of the real estate team includes successful investments in Extended Stay Hotels, CNL Resorts, William Lyon Homes, Tishman Hotels, Gables Residential, and the assemblage of a residential land portfolio totaling 35,000 lots.
John Paulson, president of Paulson & Co., will continue to be an investor in the real estate funds.
