Brian Di Salvo
Partner, Capital Advisory
SIE, Series 82
Mr. Di Salvo is a Partner and member of the Capital Advisory team at Park Madison Partners. He leads origination and capital markets by identifying new investments and arranging equity or debt financing through long-term relationships with investors, lenders, and property owners. He brings 18 years of investment experience having acquired or advised on over 105 assets valued at more than $6 billion.
Prior to joining Park Madison Partners, Mr. Di Salvo was a Co-Founder and Managing Partner of C6 Real Estate, a New York-based investment manager focused on principal investments and recapitalizations. Previously, Mr. Di Salvo led real estate originations at Partners Group, a global investment management firm with over $100 billion under management. While at Partners Group, Mr. Di Salvo was responsible for the sourcing, underwriting, due diligence, and execution of US portfolio recapitalizations. Prior to Partners Group, Mr. Di Salvo held positions at CBRE and TREC Investment Realty.
Mr. Di Salvo is active in local communities as the Founder of The Jack DiSalvo Foundation, a 501(c)3 non-profit organization. He earned a B.S. in Real Estate from the University of Nevada, Las Vegas.
Questions
& Answers
What are the keys to a successful portfolio recapitalization?
A successful portfolio recapitalization must address the goals of all parties involved. This begins by engaging an experienced advisor to conduct a comprehensive market-pricing discovery process. Information transparency and clear, upfront communication with investors are essential. Input from expert tax and legal counsel ensures investors have all necessary information to make decisions. Typically, a recapitalization involves assets where the initial business plans have gone well, but there is still potential for further value creation. The recap provides immediate liquidity and capital distributions for existing investors, while also giving them the option to continue participating in the new venture. For sponsors, this presents an opportunity to drive additional value creation. For new investors, it offers immediate visibility and exposure to attractive, high quality assets at scale through an aligned partnership.
What is fueling the growth of GP-led secondaries?
GP-led secondaries are growing in popularity as a widely accepted and attractive approach for monetizing investments and generating liquidity. These transactions allow general partners (GPs) to retain asset ownership while offering liquidity to existing investors. Additionally, managers can secure fresh capital to execute remaining business plans or acquire new investments. In a higher interest rate and sometimes volatile economic environment, an outright sale may not be the best option for GPs or existing investors. Sectors like housing, logistics, and data centers have experienced substantial growth over the past 3-5 years. This accelerated value creation in these property types facilitates recapitalizations that return equity to investors while offering attractive, pre-specified asset pools to new investors, with plenty of growth potential. As the market and economic cycles mature, we expect GP-led transaction volumes to continue setting new records.
What was your first career aspiration as a child?
I always wanted to be a sports agent, representing athletes in their contract negotiations, particularly in Major League Baseball. Over time, I realized that this was a very "Hollywood" type of career and, while I loved baseball, it wasn't the path I wanted to pursue. I was fortunate to have several mentors who helped guide me, and by the age of 15, I knew that real estate was my true passion.