Apollo Says Mikulich, Head of North American Real Estate, Has Left Company

Raymond Mikulich resigned as head of North American real estate at Apollo Global Management LLC, according to a company spokesman.

“I can confirm Ray has departed the firm,” said Charles Zehren, a spokesman for New York-based Apollo. He declined to comment further.

Mikulich, former co-head of real estate investments for Lehman Brothers Holdings Inc., joined Apollo (APO) in September 2010. He left Lehman in 2007 as the commercial-property market peaked. The following year, the investment bank filed the largest bankruptcy in U.S. history.

Coburn Packard and Jess Lipsey, two other former Lehman employees who joined Apollo with Mikulich, remain at the company.

Mikulich didn’t immediately return a telephone call seeking comment today.

He had joined Lehman in 1982 and was head of global property investment banking from 1989 to 1999. In 2000, Mikulich and Mark A. Walsh established Lehman’s real estate private- equity business and raised its first high-return property fund.

Mikulich’s departure was reported earlier today by the Wall Street Journal.

To contact the reporter on this story: Hui-yong Yu in Seattle at hyu@bloomberg.net.

To contact the editor responsible for this story: Daniel Taub at dtaub@bloomberg.net

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