Sept 12 Equity International chief executive
Gary Garrabrant has left the U.S. private equity firm for
undisclosed reasons and company founder Sam Zell will act as the
interim CEO, the Wall Street Journal reported on Wednesday.
Thomas McDonald, chief strategic officer, also exited the
company, according to the paper.
Chicago-based Equity International did not confirm the
But in a written statement made available to Reuters, Zell,
the billionaire real estate investor who founded the company in
1999, said he is "actively engaged in the business" and Equity
International had the ability to "contribute during this
Equity International, which manages $2 billion of global
pension money, owns publicly traded companies around the world
including Gafisa SA in Brazil, Xinyuan Real Estate Co
Ltd in China and Homex Development Corp in