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Goldman Sachs real estate advisory founder quits for emerging markets firm

Jeppe de Boer has left Goldman Sachs for Renaissance Capital, stating that markets such as Russia continue to show huge appetite for development.

Jeppe de Boer has joined Renaissance Capital as head of investment banking real estate.

The founder of Goldman Sachs’ European real estate advisory business said in a statement that the credit driven boom in Western European property had run its course, while opportunities in property had shifted eastwards.

“Markets such as Russia continue to show a huge appetite for capital to fund a much needed development drive. This causes the centre of gravity in European real estate capital markets to make a fundamental shift to the east,” he said.

Renaissance, which is an investment bank with asset and wealth management, merchant banking, and consumer finance companies operates in Russia, Ukraine, and Kazakhstan.

Chief executive officer, Alexander Pertsovsky, said: “Jeppe will be instrumental in developing and growing our real estate group into a market leading position in our key markets.”

Prior to Goldman Sachs, de Boer was a European Real Estate analyst at Dutch bank ABN AMRO and an investment consultant at global property services firm, Richard Ellis.

One of his last deals at Goldman Sachs was the €12 billion ($17 billion) merger between Rodamco Europe and Unibail.