Bluerock Taps Former Morgan Stanley And Perella Weinberg Executive Michael Mcgrath As EVP, Head Of Product Amidst Platform Expansion
(MENAFN- PR Newswire)
NEW YORK, Sept. 9, 2024 /PRNewswire/ -- Bluerock announced that it has hired Michael McGrath to serve as Executive Vice President and Head of Product. In this newly created role, Mr. McGrath will spearhead the firm's product development and strategy initiatives.
Mr.
McGrath joins Bluerock, a leading alternative asset manager with more than $18 billion in acquired and managed assets across a suite of credit and Real estate investment products, during a period of significant growth. The firm recently acquired a strategic stake in The Townsend Group ("Townsend") as part of a partnership that will open the door to new product development opportunities and leverage Bluerock's robust distribution platform to deliver Townsend's investment capabilities to the private wealth channel.
In his new role, Mr.
McGrath will be responsible for managing Bluerock's product suite, developing and structuring new investment products for the firm, and capitalizing upon the deepened intellectual capital resources stemming from Bluerock's partnership with Townsend. His oversight of the product development process will include guiding the launch process at partner firms across the financial intermediary space.
"Bluerock is on a trajectory for expansion," said Mr. McGrath. "As a pioneer in delivering innovative alternatives solutions to individual investors, the firm is incredibly well positioned to create next-generation investment products. Offering institutional product access to investors across the entire wealth spectrum, from mass affluent to ultra-high-net-worth, will give both financial advisors and individual investors the tools they need to invest smarter and build better portfolios."
Mr.
McGrath is a seasoned product development executive and brings over 34 years of industry experience to Bluerock. Previously, Mr. Grath held senior leadership positions at Morgan Stanley Wealth Management where he served as Global Head of Alternatives, COO of Private Wealth Americas and Head of Product Development. He also held senior roles at Perella Weinberg Partners and AXAR Capital.
"Mike brings deep experience in product innovation to Bluerock at a time where the needs of individual investors are evolving," said Ramin Kamfar, Bluerock's CEO and founder. "His impressive track record of launching product solutions engineered for the retail market will play a key role in Bluerock's growth as our platform expands into new alternative investment categories, advancing our mission of helping individual investors achieve better results in their portfolios."
Mr.
McGrath holds an MBA from NYU Stern School of Business and a BA from Saint Peter's University. He will be based in the firm's New York headquarters.
SOURCE Bluerock
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