Market Overview

Jadian Capital Closes First Transaction, Adds Two Partners


Investment firm Jadian Capital, LP announced today the closing of its
first transaction and the addition of Andrew Fredman and James Walker to
the firm.

Founded by Jarret Cohen in 2017, Jadian is an investment firm focused on
real estate-related opportunities in assets and companies. Cohen, the
former Head of Private Real Estate at Fir Tree Partners, worked with
Fredman and Walker over the last eight years. While at Fir Tree, Fredman
served as a Managing Partner and Chief Investment Officer through his
departure in 2015, and Walker served as Managing Partner, member of the
Real Estate Investment Advisory Committee and Chairman of the Risk
Committee until his departure in 2016.

"I'm excited that these two innovative investors and mentors are now
also partners. Jim and Andrew helped pioneer the approach to real estate
investing we pursue at Jadian, and their involvement significantly
expands the firm's capabilities," said Cohen.

Jadian's strategy focuses on finding overlooked or undiscovered real
estate value, often in asset-intensive operating businesses. The firm's
first transaction, a $40 million preferred equity investment into an
amusement park company, will be used to revitalize the company's largest
park and unlock value from its associated real estate. Cohen said,
"Through this senior corporate investment, we are accessing two special
assets: a trophy park with upside that our investment will help
catalyze, and significantly valuable beachfront land in a major market
that is prime for repositioning."

The firm primarily targets niche themes in commercial, residential and
alternative sectors. Cohen said, "Some of our best real estate
investments have originated in non-real estate sectors. Having a team of
folks with experience investing across industries helps us uncover those
hidden real estate opportunities." The presence of Walker and Fredman is
expected to enhance this effort greatly, given their diverse experience
and successes, including co-founding Fir Tree's real estate opportunity

Fredman will now serve as a Strategic Partner to Jadian through IngleSea
Capital, his family office investment firm, and will serve as a member
of Jadian's Investment Advisory Committee. At Fir Tree, Fredman managed
the investment team and the portfolios of Fir Tree's funds. He also
co-founded Fir Tree's capital opportunity funds and oversaw Fir Tree's
residential mortgage investment platform.

Walker will serve as Senior Partner at Jadian and will also sit on
Jadian's Investment Advisory Committee. Prior to Fir Tree, Walker was a
co-founder of Black Diamond Capital Management.


Formed in 2017, Jadian is an investment firm, targeting opportunities
throughout the capital structures of real estate-related assets and
companies. The Firm pursues a value-oriented, opportunistic approach
across commercial, residential and alternative sectors. Currently,
Jadian manages a diverse portfolio of debt and equity positions,
spanning multiple asset classes and geographies. Focused primarily in
North America, the Firm seeks overlooked or misunderstood investment
themes to generate the most attractive risk-adjusted returns available.

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