Patrick Connell has joined Dallas-based S2 Capital as head of capital formation and investor relations of the national private investment firm that focuses on residential real estate.
Connell will lead fundraising and manage S2’s growing relationships with sophisticated institutional investors globally. He will also lead the firm’s investor relations team and open the New York office.
“I’m delighted to welcome Patrick to S2,” CEO and founder Scott Everett said in a statement. “We have built strong relationships with our current investors over the past 10 years, and we are confident that Patrick will further strengthen those bonds. His expertise in institutional capital raising will help us pursue promising new opportunities and invest more effectively on a larger scale.”
S2 said that Connell has successfully raised joint venture capital with some of the largest institutional investors in the world and has a strong track record raising capital across numerous private equity, infrastructure, and credit investment vehicles.
Most recently, as managing director and head of capital raising at L&L Holding Co., Connell was responsible for raising $1.8 billion in joint ventures and strategic partnerships over the past four years.
As principal of fundraising and investor relations at Riverstone Holdings, Connell held a senior position within the Limited Partner Relations Team responsible for raising $15 billion in capital across several private real asset funds and credit funds, S2 said.
He also managed relationships with institutional investors, including pension funds, sovereign wealth funds, endowments, foundations, and family offices, during his more than six years at Riverstone.
“Scott has built a thriving company operating in some of the most dynamic real estate markets in the country, and it’s exciting to join S2 at a time when there are many interesting opportunities on the horizon,” Connell said in a statement. “Institutional investors are actively looking to partner with experienced management teams with vertically integrated operations and high growth potential, and S2 fits this profile to an exceptional degree.”
Founded in 2012, S2 Capital is a national multifamily investment platform specializing in value-add properties.
With roughly $10 billion in transaction volume, S2 has acquired roughly 46,000 units through 134 acquisitions and has successfully invested over $500 million in upgrades and renovations.
In July, we reported that S2 Capital had surpassed Blackstone as the most active multifamily investor in DFW with the acquisition of a large multifamily property portfolio in Houston and North Texas.
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