Clifford Chance taps former UBS exec for real estate, specialty finance role
Clifford Chance has recruited former investment banker Steven J. Mastrovich as a special advisor in the firm’s practices involving the real estate capital markets and other specialty finance efforts with the New York firm.
Mastrovich, who has held leading roles in the real estate industry practices of UBS, JPMorgan and HSBC, operates a New York-area real estate advisory firm he formed in November.
According to a Clifford Chance release, Mastrovich will advise clients across its practice areas in real estate (including real estate investment trusts), hospitality, private equity, fintech and specialty finance. The release stated he will support clients in securitizations, capital raising, joint venture and capital formation, complex transactions and enterprise growth strategies.
Jay Bernstein, who chairs Clifford Chance’s U.S. REIT and special finance groups, said in a statement that Mastrovich’s “qualifications and longstanding relationships with leading global capital providers, real estate lenders and developers, public REITS and their board are a distinct value-add for our clients.”
Mastrovich stated in a message posted to his LinkedIn profile that he would be working with global clients “on cutting edge projects,” and would be tapping Clifford Chance resources for his own “longstanding” clients.
In November, Mastrovich formed Redimere Advisors, billed as an advisory and capital markets specialist firm providing “high level strategic and capital formation advice and services to real estate owners, operators and investors.”
Mastrovich worked the prior four years as a managing director and co-head of real estate at UBS, preceded by a 14-year stint at JPMorgan where he also was a managing director, overseeing real estate capital markets and the global head of real assets client strategy.
At UBS, Mastrovich co-headed the global real estate advisory business focused on negotiating transactions between operators and institutional investors on direct investments, joint ventures, recapitalization, as well as taking companies private.
In addition to JPMorgan, Mastrovich was also a managing director and head of specialized investments for HSBC, and spent 18 years in private legal practice as a commercial real estate and tax lawyer.
Mastrovich’s role at the company was announced the week after former Clifford Chance partner and real estate lawyer Steven Kolyer departed for New York firm Sidley Austin. Kolyer played a key role in Clifford Chance’s practice in advising the formation of CLOs and CRE CLOs.