Two Sigma Launches CRE Investment Business

Rich Gomel, Managing Director & CIO, Two Sigma Real Estate. Image courtesy of Two Sigma

Two Sigma, of New York, has launched Two Sigma Real Estate, a new business that focuses on investing in private real estate assets. Two Sigma Real Estate will be a part of Two Sigma’s private investment business, which includes Two Sigma Impact, Two Sigma Ventures and Sightway Capital.

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In addition to his role as chairman of Two Sigma’s private investment business, Tom Hill will serve as CEO of Two Sigma Real Estate.

Rich Gomel, managing director and chief investment officer, is joined on Two Sigma’s management team by Drew Conway as head of data science.

Tom Hill, chairman & CEO, Two Sigma Real Estate. Image courtesy of Two Sigma

“Real estate is the largest asset class globally and is ripe for innovation and advancements, specifically by taking a data driven and technology-enabled approach to both investing and asset management,” Hill said in a prepared statement. “Two Sigma was founded 20 years ago with the belief that the integration of technology and data science brought immense potential to investment management.”

Two Sigma Real Estate reportedly will take “a human-led, machine-supported approach to investing in private real estate assets.”

Post-pandemic opportunities

Gomel told Commercial Property Executive: “We will have a flexible mandate allowing us to focus on multiple asset classes in North America. We have spent significant time evaluating trends coming out of the pandemic and will pursue opportunities supported by our research.”

Gomel has more than 20 years of commercial real estate experience, having most recently served as managing partner of WeWork’s real estate investment platform. Prior to that, he served as partner and senior investment officer at Junius Real Estate Partners, a specialized real estate investment unit of JPMorgan Asset Management.

Before that, Gomel was a managing director at Starwood Capital Group, during which he also served as CEO of Groupe du Louvre, an owner and operator of more than 1,000 hotels around the world and across all market segments. He also held various senior positions at Starwood Hotels & Resorts.

Gomel has a B.A. from Cornell University and an M.B.A. from Harvard Business School.