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Rockpoint co-founder to step down

Rockpoint Partners’ Jonathan Paul, who was part of the team that founded the firm after leaving Westbrook Real Estate Partners, is stepping down to pursue other interests.

Jonathan Paul is stepping down from San Francisco-based private equity real estate firm Rockpoint Partners, which he co-founded in 2003.

According to a statement, Paul “will take a reduced management role at the firm in order to pursue other interests,” but will continue to retain an ownership stake in the firm and will maintain a senior management role overseeing the firm’s current portfolio.

Paul co-founded the firm alongside William Walton, Patrick Fox, Keith Gelb and Gregory Hartman in 2003. The management team split from Westbrook Real Estate Partners, which Walton started in 1994 with fellow Morgan Stanley pro Paul Kazilionis.

In 2003, Walton and Kazilionis split, with Walton launching Rockpoint and Kazilionis continuing on under the Westbrook banner. The former Westbrook pros continue to oversee ongoing investments from that period. 

Paul began his career with Morgan Stanley Real Estate Funds in 1991. At Westbrook and Rockpoint, Paul has been involved with seven property funds which had more than $7 billion in capital, according to the firm. He was recently overseeing Rockpoint’s European investments, including the opening of offices in London and Frankfurt.

“Over our more than 15 years of working together, most recently at Rockpoint, Jonathan Paul has made significant contributions and has played an important role in making Rockpoint what it is today,” Walton said in the statement. “We are pleased that he will continue to retain an ongoing relationship with the firm and we wish him well in his new endeavors.”

Since 2003, Rockpoint has raised $4 billion for three opportunistic funds and one structured finance vehicle.