NEW YORK, May 16, 2023 /PRNewswire/ — Sycamore Partners today announced that Sandeep Mathrani, former Chief Executive Officer at WeWork and former Chief Executive Officer of Brookfield Properties’ retail group / Vice Chairman of Brookfield Properties, has joined the firm as a Director strengthening the firm’s real estate expertise. Sandeep will lead Sycamore’s real estate activity, improving and optimizing real estate often embedded within Sycamore’s target companies.
“We are thrilled to have Sandeep join the Sycamore Partners team as the firm has a long history of underwriting real estate while evaluating portfolio company opportunities. Given the current environment, we believe real estate will continue to be a significant source of value,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “Sandeep has invaluable operating experience over many cycles and I am confident that his real estate expertise will enhance Sycamore’s ability to realize value across our portfolio.”
Mr. Mathrani said, “I am honored to join Sycamore Partners. Sycamore Partners has an outstanding reputation for driving profitable growth across its leading retail and consumer brands. I look forward to working closely with my new colleagues as we focus on building upon the firm’s existing capabilities.”
About Sandeep Mathrani
Sandeep Mathrani has served as WeWork’s Chief Executive Officer and as a member of WeWork’s board of directors since February 2020. He was elected Chairman of the Board for WeWork on March 29, 2022. Mr. Mathrani most recently served as Chief Executive Officer of Brookfield Properties’ Retail Group and Vice Chairman of Brookfield Properties. Prior to that, he served as Chief Executive Officer of GGP Inc. for eight years, during which the company was capitalized in November 2010, experienced eight years of growth, and in August 2018 was sold to Brookfield Property Partners. Prior to joining GGP in 2010, Mr. Mathrani was President of Retail for Vornado Realty Trust, where he oversaw the firm’s U.S. retail real estate division and operations in India comprised principally of office properties. During his tenure, he was responsible for stabilizing and growing the portfolio. Before that, he spent eight years as Executive Vice President at Forest City Ratner, where he was tasked with starting and growing a new platform of retail properties across the five boroughs of New York City. Mr. Mathrani currently serves as a member of the board of directors of Dick’s Sporting Goods, Tanger Factory Outlet Centers, Inc. and Bowlero. Previously, Mr. Mathrani served as a member of the board of directors of Host Hotels & Resorts, Inc. and was the 2019 Chair of NAREIT. Sandeep also served on the executive board and the board of trustees for the International Council of Shopping Centers (ICSC). Mr. Mathrani earned a Bachelor of Engineering, a Master of Engineering and a Master of Management Science from Stevens Institute of Technology.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York. The firm specializes in retail, consumer, and distribution-related investments and partners with management teams to seek to improve the operating profitability and strategic value of their business. With approximately $10 billion in aggregate committed capital raised since its inception in 2011, Sycamore Partners’ investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. For more information on Sycamore Partners, visit www.sycamorepartners.com.
Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Sycamore Partners