Evercore has hired Nishant Bakaya as a managing director in its private capital advisory business, according to a statement from the firm.
Based in New York, he will focused on advising institutional investors and fund sponsors on transactions in the real estate sector, which increasingly involves secondaries.
“We believe that real estate will be one of the fastest growing areas in the secondary market for the foreseeable future,” Nigel Dawn, global head of Evercore’s private capital advisory group, said in a statement.
“Nishant’s addition to our team allows us to provide a differentiated level of insight and execution for real estate institutional investors and fund sponsors as they increasingly use the secondary market as a tool for liquidity and financing.”
Bakaya, who comes from Akara Partners, a Chicago-based real estate investment firm where he spent almost two years and where he focused on real estate principal investing.
Prior to that, he worked for UBS’s real estate investment banking group in New York, advising on transactions including the restructuring of General Growth Properties and the $26 billion sale of Hilton Hotels to funds affiliated with Blackstone.
He joined the firm in May, according to his LinkedIn profile.