Macquarie Deepens CRE Bench with Blackstone Vet Lester

NEW YORK CITY-With the aim of deepening its real estate bench, Macquarie Capital, the corporate advisory and capital markets arm of Macquarie Group, has hired Rob Lester as a managing director. Based in New York City, Lester will partner with Macquarie veteran Eric C. Wurtzebach, also a managing director, to jointly lead the real estate group's efforts in the Americas.

Nick Butcher, head of North American infrastructure, US real estate and US resources for Macquarie Capital, says the hiring of Lester represents “a significant expansion of our global real estate group and representative of our ongoing efforts to increase our presence in the Americas.” He says Lester's “excellent experience and industry relationships will contribute significantly to our global real estate practice, which has raised $40 billion in private equity commitments since 2003.”

Lester is joining Macquarie after a decade with the Blackstone Group, most recently as a managing principal in the firm's wholly owned Park Hill Real Estate Group affiliate, a private equity placement advisor for real estate and infrastructure investment strategies worldwide. Before that, he worked within Blackstone raising capital on behalf of its real estate, private equity and hedge funds.

Previously, Lester worked in investment banking groups at Deutsche Banc Alex. Brown and BNP Paribas. “Real estate operators today have a critical need for intelligent, tailored private capital market solutions and Rob's expertise and relationships will enhance our global platform,” Butcher adds.