Founded in 2019, Commonwealth Asset Management (“CWAM”) is a Los Angeles-based investment firm specializing in Real Estate.
Commonwealth targets opportunistic returns through the large-scale platform and entity-level real estate transactions in the “GP” or “Operating Partner” position in sectors with strong secular tailwinds and idiosyncratic inefficiencies that can be harnessed through creative, long-term investment strategies.
Commonwealth’s approach to real estate investment is grounded in our top-down macroeconomic view. As a firm, we believe we are uniquely situated to leverage and inform our real estate investment decision-making.
Our investment approach is guided by 7 key principles:
At our core we are opportunistic investors without bias towards asset classes, industries or geographies.
We consider an intentionally broad and non-traditional cross section of investments, including:
- Operationally intensive asset
classes.
- Asset classes that are experiencing a
fundamental shift in demand.
- Highly fragmented sectors.
- Idiosyncratic opportunities with
informational opacity.
- Asset classes with deeply-entrenched
incumbents that have become
complacent.
Commonwealth’s research process begins by establishing a view on interest rates given the myriad of ways in which they impact the sector.
With that understanding we form a view of where we sit in the cycle, which informs the ratio of alpha and beta we seek in the portfolio.
The entire process is underpinned by the team’s extensive industry experience.
Commonwealth reviews a diverse array of investment opportunities across verticals.
Our current portfolio comprises investments in the Data Center, Soundstage, Logistics and Communications Infrastructure sectors.
BIO
Adam is the Founder and Chief Investment Officer of
CWAM.
Over the last 18 years, Adam has successfully built
and led numerous investment management practices
across both public and private markets. Adam’s
experience provides a unique input into the research
framework at CWAM, where both liquid and illiquid
market indicators are assessed to form a structural
macro outlook and view of the cycle.
Prior to launching Commonwealth, from 2017 to 2019,
Adam served as the Global Head of Macro and Real
Estate for a sophisticated, New York-based Family
Office. Prior to this role, Adam founded and served
as the CIO of Commonwealth Opportunity Capital
(“CWOC”), a global macro hedge fund, from its
inception in November 2008 until it began the
process of returning capital to investors in July
2017. CWOC had approximately $2.3 billion AUM at its
closing and 25 employees across 3 office locations.
The firm offered two comingled global macro hedge
funds as well as multiple co-investment
opportunities in both the liquid and illiquid space.
Before CWOC, Adam co-founded Orient Property Group
in 2006 focusing on investments throughout the Asia
Pacific region and before that from 2003 to 2006,
Adam co-founded Irongate Capital Partners
(“Irongate”), a property investment and development
firm. Irongate and its predecessor entity were
involved in property transactions in Florida,
California, Hawaii, Mexico, and Canada. Prior to
founding Irongate, Adam worked in New York for two
private equity firms, NMS Capital and TD Capital, as
well as a risk arbitrage firm affiliated with
Reservoir Capital.
Adam holds a JD/MBA from Columbia University and
serves on the Columbia University Richman Center for
Business, Law and Public Policy Advisory Board. He
received his B.S. from Washington University in St.
Louis.
BIO
Peter Rumbold joined CWAM in June 2019 and oversees
all of the firm’s real estate investment activities.
Over the last 20 years, Peter has worked with
several institutional firms, gathering experience
across different phases and sectors of Real Estate
investing. Peter’s unique combination of experiences
informs Commonwealth's differentiated approach to
alpha generation, focusing on value opportunities,
progressive economic trends and deal sourcing.
Before joining CWAM, from 2018 to 2019, Peter and
Adam Fisher worked together for a sophisticated, New
York-based Family Office, where they looked to
establish the firm’s direct real estate investment
business. Prior to this role, between September 2014
and June 2017, Peter served as the Head of
Acquisitions at Winter Properties LLC (“Winter”), a
100-year-old owner, operator, developer and
financier of commercial real estate assets
throughout New York City. During his tenure there,
he oversaw the origination of opportunistic debt and
equity transactions, as well as the property and
asset management of a portfolio of office and
residential properties and mezzanine loans. Prior to
Winter, between 2006 and 2014, Peter worked at
Cerberus Real Estate Capital Management, LLC
(“Cerberus”), where he was responsible for
identifying, executing and managing opportunistic
real estate investments across all asset classes and
geographies and throughout the capital structure.
Prior to joining Cerberus, Peter was part of the
Acquisitions group at Sterling American Property,
Inc. where he was responsible for the underwriting
and execution of equity investments in the
multifamily and office sectors. From 2002 to 2003,
he worked in Investment Banking at Bear, Stearns &
Co. Inc.
Peter graduated from Emory University with a B.A. in
Economics and French.
BIO
Oliver Walters joined CWAM in August 2021 as the
Chief Operating Officer. Before joining CWAM Oliver
served as Deputy Chief Operating Officer at the
Dalio Family Office where he was responsible for
supporting the operational infrastructure at the
investment and philanthropy-focused office. Oliver
previously worked at JP Morgan from 2012 to 2020 as
an operations leader within various divisions
including: investment banking, risk management and
wealth management; his final role was Global Head of
Risk Business Management for Asset & Wealth
Management.
During his time at JP Morgan he worked in Singapore,
Hong Kong and New York. Prior to JP Morgan, from
2008 to 2012, Oliver held a variety of roles in
Corporate Governance and Private Banking with
Standard Chartered Bank in London, Dubai and
Singapore. Oliver began his career in 2007 with The
Bank of New York Mellon in London. Oliver completed
3 years of study in International Relations &
Politics at Oxford Brookes University.
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Suite
2320
Los Angeles, CA 90025
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