Ex-Goldman Banker Targets CRE Deals Left Behind in Trump Era
- Political pressure is building across US for investment firms
- ‘We aren’t pulling back,’ says Galvanize property executive
The Manhattan skyline
Photographer: Ismail Ferdous/BloombergThis article is for subscribers only.
The former Goldman Sachs Group Inc. banker running billionaire Tom Steyer’s green real estate unit is targeting deals he says have been left behind by investors spooked by the anti-green rhetoric of the Trump administration.
Joe Sumberg, who’s overseen the commercial real estate arm of Steyer’s Galvanize Climate Solutions LLC since leaving Goldman in late 2022, said it’s clear to him that “the political and cultural pressures are causing many investment managers to pull back on resources and focus surrounding sustainability and climate.”