(Bloomberg) -- Centerbridge Partners’ Billy Rahm, who oversees global real estate investing, is leaving the firm, according to people with knowledge of the matter.

Rahm, a senior managing director who has worked for Centerbridge since 2006, was involved in the alternative-asset manager’s bets on companies including Great Wolf Resorts and Suntex Marina Investors. 

The firm has been investing out of Centerbridge Partners Real Estate Fund II, a $2.3 billion vehicle that it closed in 2022. Its investors include the Teachers’ Retirement System of Louisiana and the Oklahoma Firefighters Pension & Retirement System, according data compiled by Bloomberg. 

A spokesperson for New York-based Centerbridge had no immediate comment.

Senior real estate dealmakers have departed from other alternative-asset managers in recent years, including Tyler Henritze, who left Blackstone Inc. to found his own investment firm, Town Lane.

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