People Moves: Real estate leader Joseph Sumberg Joins Galvanize Climate Solutions from Goldman Sachs
Joseph comes to Galvanize from Goldman Sachs, where he was a Managing Director and spent 15 years in the organization as a real estate investor and lender. Joseph was Investment Committee Chair, Chief Investment Officer, and Portfolio Manager for all funds and accounts previously managed by GSAM Private Real Estate, a US real estate investment platform that he co-founded in 2011. He joined Goldman Sachs in 2007 and became a Managing Director in 2016.
At Galvanize, Joseph will be a vital member of the team as the platform grows and tackles decarbonization across asset classes and strategies. He brings to the platform vast experience in real estate investing, risk management, and fund management as well as a passion for incorporating sustainable investing practices into the built-environment.
"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," said Katie Hall, Co-Executive Chair of Galvanize. "His expertise will help us address a critical piece of the climate crisis."
Founded by noted investors Katie Hall and Tom Steyer, Galvanize is a mission-driven investment platform, bringing together the ingenuity of the public and private sectors to support companies and leaders building climate solutions for a healthier and safer world.
"We cannot tackle the climate crisis without strategizing for our built environment," said Tom Steyer, Co-Executive Chair of Galvanize. "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."
"I believe climate change will be one of the most consequential secular trends in the US real estate market for decades to come," said Joseph Sumberg, Managing Partner and Head of Galvanize Sustainable Real Estate. "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."