Climate-focused investment firm Galvanize Climate Solutions announced the appointment of Joseph Sumberg to launch its sustainable real estate platform, and serve as Managing Partner and Head of Galvanize Sustainable Real Estate.

Galvanize was launched last year by Hall Capital Partners founder Katie Hall and hedge fund billionaire and former presidential candidate Tom Steyer, as a mission-driven investment platform to provide capital, expertise and partnerships necessary to produce and scale urgent climate solutions. Sumberg joins the firm as it works to expand to tackle decarbonization across asset classes and strategies.

Steyer said:

“We cannot tackle the climate crisis without strategizing for our built environment. Joe’s real estate management experience – and passion for decarbonization – will help Galvanize expand and deliver the urgent climate solutions we need in this area.”

Sumberg joins the team after more than 15 years at Goldman Sachs, most recently as a Managing Diirector, where he served as a real estate investor and lender. In 2011 he co-founded Goldman Sachs Asset Management’s US real estate investment platform, GSAM Private Real Estate, and subsequently served as Investment Committee Chair, Chief Investment Officer, and Portfolio Manager for the funds.

Hall said:

“Joe’s experience in managing real estate portfolios, and his on-the-ground knowledge of decarbonization, will be a real asset for Galvanize and our partners. His expertise will help us address a critical piece of the climate crisis.”

Sumberg added:  

“I believe climate change will be one of the most consequential secular trends in the US real estate market for decades to come. I’m thrilled to partner with the Galvanize team with the aim of generating compelling risk adjusted returns for our investors, while simultaneously decarbonizing an asset class that has historically been a significant contributor to climate change.”

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