a marketplace for investing in real estate backed loans, has announced
the appointment of Deepa Salastekar as the Vice President of
Institutional Sales. Ms. Salastekar joins PeerStreet to expand the
company’s relationship base of institutional partners across all
investment types available through PeerStreet.
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PeerStreet has announced the appointment of Deepa Salastekar as the Vice President of Institutional Sales (Photo: Business Wire)
As PeerStreet’s Vice President of Institutional Sales, Ms. Salastekar
will lead the strategy and communications for the growing number of
financial institutions seeking to invest in fractional or whole loans on
PeerStreet. She brings more than 20 years of experience in capital
markets, including nine years as a Senior Vice President at Pacific
Investment Management Company in Alternative Sales, eight years at Bear
Stearns & Co, Inc. as a Managing Director in Fixed Income Institutional
Sales of Derivatives, and most recently as Co-Head of Securities for
Inveniam Capital Partners, a platform focused on blockchain-enabled
tokens for private debt. She holds an MBA from the University of Chicago
Booth School of Business and a BA from Rutgers University.
“We are currently experiencing great demand from investors of all
stripes, including institutional investors, and we are lucky to be able
to bring someone of Deepa’s caliber on board to manage this growth,”
said Brew Johnson, co-founder and CEO of PeerStreet. “We can’t wait to
see where her leadership takes us.”
Ms. Salastekar’s experience in building businesses across institutional
and retail channels demonstrates her expertise in sales and product
development in fixed income markets and alternative investments. Her
background will be essential in executing on a strategy to develop
sales, marketing and investor relations functions for PeerStreet’s
institutional audience. With a career focused on mortgage credit sectors
and private credit, she brings valuable insight to PeerStreet’s capital
markets team to meet and facilitate institutional demand.
“While institutional investors have liked investing in mortgages
originated by private lenders, it was challenging for them to get both
volume and diversification, especially in markets like fix and flip and
Residential for Rent because the markets are so fragmented,” said Ms.
Salastekar. “PeerStreet immediately resonated with me because it solves
real problems for institutions by making it dramatically easier to
access and diversify across investments in fragmented markets.”
Ms. Salastekar is the latest executive hire to an expanding team of
capital markets professionals. She joins Louis
Nees, PeerStreet’s Head of Capital Markets, who joined the company
in September 2017 after 30 years of experience on Wall Street, most
recently as CEO of Walter Capital Opportunity. The team is further
supported by Bob
Brown’s rich investment banking experience—with tenures at Goldman
Sachs and Lehman Brothers, including an extensive history of advising
C-level executives in the financial services and FinTech sectors.
Several key hires have been made over the previous year as PeerStreet
enters its fifth year in business and continues its rapid growth. In
March 2019, the company surpassed
$2 billion transacted on the platform.
PeerStreet is a first-of-its-kind online platform for investing in real
estate debt. The platform represents a two-sided marketplace that, on
one side, provides hassle-free access to an asset class that was
previously inaccessible to individual investors: short-term, real estate
backed loans. On the other side of the marketplace, PeerStreet connects
a vetted network of private lenders with diverse sources of capital to
help fuel their growth and bring lending back to their local
communities. The company’s vision is to align the interests of this
ecosystem—from lenders and investors to borrowers and the local
communities they represent.
PeerStreet is led by former real estate attorney Brew Johnson, former
Google executive Brett Crosby, and Y Combinator alumnus Alex Perelman.
Backed by noted venture capital firms including Andreessen Horowitz,
PeerStreet was founded in 2013 and has had over $2 billion transacted
through the platform as of March 2019.