KINGSETT CAPITAL ELEVATES ROB KUMER TO CHIEF EXECUTIVE OFFICER; KINGSETT FOUNDER JON LOVE TRANSITIONS TO EXECUTIVE CHAIR
TORONTO, Nov. 27, 2023 /CNW/ - KingSett Capital Inc. announced today that Jon Love will become Executive Chair of the firm and Rob Kumer will be elevated to Chief Executive Officer, effective January 1st, 2024. As Executive Chair and KingSett's majority owner, Mr. Love will maintain oversight and responsibility for KingSett, guide the firm's strategy, and serve on the KingSett fund boards. As CEO, Mr. Kumer will be responsible for executive management, working with Mr. Love to establish KingSett's strategy and drive results for the firm's funds. Mr. Kumer will continue to serve as Chair of KingSett's Management and Investment Committees.
"This transition formalizes the expanded leadership role Rob has played so well over the last several years and marks the culmination of a well-planned, multi-year leadership succession at the firm," said Mr. Love. "KingSett has assembled a management committee and team of professionals that bring extraordinary depth of experience and cross-platform expertise. They are ready to lead KingSett forward into the next decade, focusing on our core mandate - delivering sustainable premium risk weighted returns for our investors."
"I am grateful for the opportunity to serve as KingSett's CEO and help lead the firm into the next phase of its growth and investor performance," said Mr. Kumer. "I will be focused on maintaining KingSett's strong culture and values, which have been fundamental to our success. I want to thank Jon for the trust he has shown in me, and I want to thank our investors and board members, and our valued partners for the confidence they continue to show in KingSett."
As part of this transition, Colin Baryliuk will join the firm's Management Committee and assume the role of Chief Investment Officer previously held by Mr. Kumer. Mr. Baryliuk joined KingSett in 2008 and has held increasingly senior roles over time, including most recently Group Head, Property Investments. Mr. Baryliuk will be responsible for day-to-day management of the Investments team including allocation of team resources and oversight of investment underwriting, transaction negotiation and due diligence.
Additionally, Scott Coates, who joined KingSett in 2006, will be elevated to President, KingSett Mortgage Corp., an evolution in title that reflects his central role and his success in building and leading the firm's national commercial and residential mortgage lending business, a key component of the KingSett Capital platform.
The changes to Mr. Baryliuk and Mr. Coates' roles also take effect January 1, 2024.
Mr. Kumer joined KingSett in 2004 as an analyst. He has assumed increasingly senior roles over the years including Chief Investment officer and Chair of KingSett's Investment Committee in 2018. He was appointed President and Chair of the firm's Management Committee in 2021. As the firm's President and CIO, he has had responsibility for guiding and executing KingSett's investment strategy and leading the Investments team which sources, underwrites and structures investment transactions for KingSett's various Fund strategies. In addition, Mr. Kumer provides oversight of KingSett's mortgage lending business and serves as Fund Manager for KingSett's Growth Funds and Urban Fund.
Mr. Kumer holds a degree in Honours Business Administration from the Ivey Business School at Western University, where he is now a member of the school's Advisory Board. Mr. Kumer also serves as Vice-Chair of the Board of the Sinai Health System Foundation.
Founded in 2002, KingSett Capital is a leading Canadian private equity real estate firm that co-invests with institutional and ultra-high net worth clients to deliver sustainable, premium risk-weighted returns. KingSett manages over $18 billion in assets across its Growth, Income, Urban, Mortgage, Residential Development and Affordable Housing strategies.
In recognition of its commitment to sustainability, KingSett was ranked #1 globally in the 2023 Global Real Estate Sustainability Benchmark (GRESB) Survey for Development in its Residential Non-Listed peer-group and 2nd in the North America Diversified Office/Residential Non-listed for Standing Investments. As a leader in the industry, KingSett remains dedicated to moving the real estate sector forward and seeking new investment opportunities in a wide range of real estate properties, developments, joint ventures, and mortgage lending.
SOURCE KingSett Capital
David Ryan, Edelman Smithfield, (416) 455-1927 or [email protected]
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