Covercy Expands its Board as Part of US CRE Challenger Banking Strategy

Covercy, the only platform for commercial real estate investment firms to combine commercial real estate banking and investor management, has appointed Konrad “Chip” Kruger as chairperson and Dana Roffman as an advisory board member as part of its US CRE Challenger Banking Strategy.

“We are excited to add two talented industry veterans to our board.” said Covercy CEO Doron Cohen. “Chip is a seasoned expert in private equity and banking and Dana is a trusted authority in CRE investments. Their appointment will prove invaluable to our rapid growth strategy in the US market.”

Mr. Kruger is a Managing Partner at Five Mile Capital, and a trustee of Willamette University. He was the Co-CEO of Greenwich Capital Markets and orchestrated their $590M sale to NatWest.

Ms. Roffman is a Non-Executive Director of Savills (LON:SVS) – the sixth largest CRE broker, and on the Advisory Board of the NYU Schack Institute of RE. She spent 25 years as a Partner & Managing Director in the real estate private equity group of investment management firm Angelo Gordon.

“When I first met Covercy I was intrigued by their unique success in processing online capital calls and distribution payments, which I thought would never be automated.” said Covercy Chairperson Kruger. “Five Mile, having managed more than $5B of CRE investments with internally built systems, would have greatly benefited from the technology that Covercy is providing. I am excited to join the effort to expand Covercy to a full CRE banking platform—the first of its kind.”

“Whether you are a fund manager, or a smaller deal syndicator, this platform simplifies and automates an ordinarily inefficient, often manual process,” said Covercy Advisory Board Member Dana Roffman. “I am thrilled to join Covercy to help the company in its US expansion.”