Jared and Josh Kushner Launch Real Estate Investment Platform Cadre
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Jared and Joshua Kushner have partnered with Goldman Sachs and Blackstone Group alumnus Ryan Williams to launch Cadre, a real estate investment platform that connects investors with opportunities in gateway markets. The brothers serve as strategic advisers while Williams is the CEO, overseeing day-to-day operations, The Real Deal reports. The founders began working on the venture last fall and have already raised $18.3M in a Series A round led by Joshua Kushner's company, Thrive Capital, and General Catalyst Partners. Other investors include real estate giants like SL Green Realty, Andrew Farkas of Island Capital Group, and former Vornado Realty Trust CEO Michael Fascitelli. Cadre has also secured a $250M backstop from a large family office. The Kushners have an extensive history in real estate. Jared (pictured), who's married to Ivanka Trump, is the CEO of Kushner Cos, a developer of Dumbo Heights in Brooklyn, and is one of the youngest and wealthiest real estate moguls in the country. Meanwhile, Josh has invested in major tech startups like Instagram and Reddit, in addition to real estate startups like Hightower, 42Floors Honest Buildings and Compass. [TRD]