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DWS Appoints Jay DeWaltoff as Head of U.S. Real Estate Debt Team

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DWS Appoints Jay DeWaltoff as Head of U.S. Real Estate Debt Team
News

News

DWS Appoints Jay DeWaltoff as Head of U.S. Real Estate Debt Team

2024-08-15 00:01 Last Updated At:00:10

NEW YORK--(BUSINESS WIRE)--Aug 14, 2024--

DWS, a leading global asset manager, today announced that Jay DeWaltoff has joined the firm as Head of U.S. Real Estate Debt to accelerate the growth of its existing U.S. real estate credit business and expand its global private credit platform. He will be based in the firm’s New York City office and report directly to Todd Henderson, Co-Global Head of Real Estate and Head of Real Estate for the Americas.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240814264082/en/

Mr. DeWaltoff brings over two decades of origination and structuring experience to the role. Prior to joining DWS, he was the Head of the Commercial Mortgage Loan Group at J.P. Morgan Asset Management within its Alternatives platform, where he was directly responsible for capital raising, constructing tailored portfolios to meet investor objectives, and approving all new investments. During his 11-year tenure, Mr. DeWaltoff successfully led the team in building a dynamic commercial mortgage lending platform, growing commitments from less than $2 billion to over $13 billion. He has also held previous roles at Citigroup Global Markets and Cushman & Wakefield.

“With $116 billion 1 in assets across our Alternatives platform and a 50-year track record, DWS has cultivated longstanding strategic relationships with investors seeking access to private real estate, infrastructure, and liquid real assets. We are seeing increased opportunities in the debt market due to the macroeconomic and regulatory environments which should deliver attractive risk-adjusted return potential to investors,” said Mr. Henderson. “We are delighted to welcome Jay to the team as we deepen our commitment to our clients in the Alternatives sector and look to take advantage of improving fundamentals in the real estate sector to generate above-average returns across the risk spectrum in the asset class.”

In addition to the appointment of Mr. DeWaltoff, Daniel Sang, Catherine Millane, and Khrystyna Bazlyak, join DWS. All three join from J.P. Morgan Asset Management. The new joiners will bolster the strength of DWS’s existing team which has a longstanding track record of success in real estate credit.

Mr. DeWaltoff added: “I’m pleased to be joining DWS during such a pivotal time for the real estate market. DWS’ brand in the real estate ecosystem, combined with its equity track record, and deep institutional relationships, provides a strong jumping-off point for me and the team to help drive the business forward.”

DWS has managed corporate credit portfolios for over 25 years, with over EUR 100 billion in dedicated investment grade, hybrid, high yield, and direct lending portfolios. DWS aims to build diversified portfolios that deliver attractive risk-adjusted returns with a focus on capital preservation to investors, which include governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.

Watch the announcement video here.

About DWS Group

DWS Group (DWS) with EUR 933bn of assets under management (as of June 30, 2024) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas, and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability, and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.

DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping navigate the transition to a more sustainable future. With approximately 4,500 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times, to build the best foundation for our clients’ financial future.

Note to Editors: DWS’s Global Alternatives Business

DWS’ global Alternatives business has been investing in the asset class for more than 50 years. As one of the world’s leading fiduciary Alternatives managers with USD 116 billion in assets under management (as of June 30, 2024), we offer a diverse range of strategies across the Alternatives’ spectrum including direct real estate and infrastructure, real estate and infrastructure securities, and commodities. Leveraging our integrated platform comprising more than 450 employees across 16 countries and a network of investment specialists worldwide, the business is committed to its fiduciary obligation to deliver solutions that meet the individual investment needs of governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.

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1 As of June 30, 2024

(Photo: Business Wire)

(Photo: Business Wire)

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Japan's exports hit record high, but trade deficit continues

2025-01-23 13:16 Last Updated At:13:21

TOKYO (AP) — Japan saw record-high exports last year, as its annual trade deficit declined 44% from the previous year, the Finance Ministry reported Thursday.

The trade deficit, which measures the value of exports minus imports, totaled 5.3 trillion yen ($34 billion), according to government data, as imports ballooned on the back of rising energy costs and growing inflation around the world.

Exports from the world’s third-largest economy totaled 107.9 trillion yen ($691 billion), surpassing the 100 trillion yen mark for the second-straight year, and the biggest value on record for comparable data, which dates back to 1979, the ministry said.

Some companies may have sped up their exports in anticipation of potential tariffs by U.S. President Donald Trump.

Trump has said he expects to put 25% tariffs on Canada and Mexico starting Feb. 1. During his campaign, he threatened to impose tariffs on imports from China, although details on that remain unclear.

For the month of December, exports gained a greater-than-expected 2.8% on-year, while imports rose 1.8%. Exports grew to Asian and European nations, while dipping slightly to the U.S.

Imports grew most from India, Hong Kong and Iran.

Demand was especially strong for Japan's vehicles, semiconductors and other machinery.

The weakening yen, another recent trend, has the effect of inflating the value of imports. The U.S. dollar has been hovering at 150-yen levels, sometimes surpassing 160 yen, over the past year, while a year ago it was often at 140-yen levels.

Japan has recorded a trade deficit for four straight years, but last year's deficit was considerably smaller than the 9.5 trillion yen deficit for 2023.

FILE - Cars for export are parked at a port in Yokohama, near Tokyo, on July 6, 2020. (AP Photo/Koji Sasahara, File)

FILE - Cars for export are parked at a port in Yokohama, near Tokyo, on July 6, 2020. (AP Photo/Koji Sasahara, File)

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