Poverni Sheikh Group (PSG), a Columbia, MD based real estate asset manager specializing in self-storage and multifamily development and senior real estate credit, and Lapa Capital Partners (Lapa), a New York-based firm focused on growth equity investments and real estate, proudly announce the merger of their asset management businesses after a highly successful four-year joint venture. This transformative merger creates a powerful growth catalyst in private middle markets, combining the expertise and talents of two industry players.
The combined organization counts on a total of 29 professionals with diverse backgrounds in real estate, private and public investing, legal, and operations, including five principals. This united talent pool fortifies the merged firm’s capabilities, paving the way for rapid growth and handling increasingly complex deals, with the majority of intrafirm integration completed over the last twelve months. While PSG’s real estate and back-office operations will remain in Columbia, MD, Lapa’s growth equity activities and certain business functions will operate from our Manhattan, NY office.
By pooling our expertise and resources, the merged entity is optimally positioned to seize burgeoning pipeline opportunities, as private markets offer a multitude of possibilities following recent market dynamics. The merged firm will maintain two separate brands, PSG for real estate and Lapa for growth equity, preserving their well-established reputations in their respective areas.
“We are thrilled to announce the merger of PSG and Lapa’s asset management businesses, which comes at a fortuitous time as deal-flow in our segments accelerates,” said Eugene Poverni, CEO at PSG. “This strategic partnership marks a significant milestone for both firms, bringing together PSG’s experience in over 200 successful real estate investments and Lapa’s consistent growth in the growth equity landscape. Together, we will solidify our position as a leading capital provider to middle markets.”
The merger will yield enhanced operational efficiencies and elevate the investment experience for all stakeholders.
Eduardo Karpat, Principal at Lapa, commented, “While the investment landscape offers numerous solutions in large asset classes and listed markets, we believe our edge lies in sourcing and executing private transactions where we have a say in pricing, structure, and governance. Our mature real estate platform serves as a blueprint as we selectively acquire stakes in exciting companies, adding value during their critical last stage of growth.”
During the transition period, stakeholders of both PSG and Lapa can expect uninterrupted service. The merged firm will communicate directly with all parties, ensuring a seamless continuation of their investment strategies and addressing any inquiries or concerns.
Poverni Sheikh Group is a leading real estate asset management firm specializing in self-storage and multifamily development and senior real estate credit. Providing $2m-$20m financing to borrowers nationwide and completing over 200 transactions on its balance sheet since 2012, totaling more than $700 million in investments. PSG comprises a team of 25 experienced business, legal, and accounting professionals committed to delivering exceptional results and generating long-term value for its investors and stakeholders.
About Lapa Capital Partners:
Lapa Capital Partners is a boutique asset management firm focused on providing innovative investment strategies and personalized solutions in the growth and private equity business. With a strategic focus on cybersecurity, healthcare, and consumer product space, Lapa has built a strong reputation for its investor-centric approach and commitment to excellence.