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Center Stage Planning
Center Stage Planning was established by Richard P. Richman, whose family wealth originates from The Richman Group, a privately held real estate firm he...
Center Stage Planning
Center Stage Planning was established by Richard P. Richman, whose family wealth originates from The Richman Group, a privately held real estate firm he founded in 1988. The Richman Group grew into a national platform for affordable housing development, acquisition, and asset management, creating the capital base that Center Stage Planning now stewards. The family office operates from New York and functions as the principal investment vehicle for the Richman family's liquid and illiquid assets outside the operating company. The office maintains a diversified portfolio spanning direct real estate holdings, private equity fund commitments, public equities, and hedge-fund allocations. On the public side, Center Stage Planning employs a long-biased, concentrated value strategy focusing on durable businesses with strong competitive moats. Within real estate, the family continues to hold interests in multifamily properties and development projects alongside The Richman Group's existing portfolio. The firm's private equity exposure includes direct co-investments and limited-partner positions in middle-market buyout funds, though individual fund names and investment sizes remain closely held. Center Stage Planning operates with a lean structure; Richard Richman serves as the primary investment decision-maker, supported by a small internal team and external advisory relationships. The office values permanence of capital, rarely selling core real estate assets and maintaining equity positions for decades. In January 2025, The Richman Group marked its 37th year of continuous operation, affirming the long-duration capital that underpins Center Stage Planning's investment horizon. The structure differs from a conventional multifamily office or institutional allocator: Center Stage Planning is a true single-family office where the founder's real estate operating DNA dictates the entire portfolio's tempo. The firm does not market to outside capital, does not maintain a public-facing investment team, and treats its liquid public-equity book with the same multi-decade ownership lens typically reserved for apartment buildings.
General information
Firm type
Single Family Office
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Richard P. Richman
Founder and Principal
Sector focus
Frequently asked questions
Who runs investment decisions at Center Stage Planning?
Richard P. Richman, the founder of The Richman Group, serves as the principal investment decision-maker. He is supported by a compact internal team and leverages external advisors for specific asset classes. The office does not employ a large, named investment committee typical of an institutional allocator.
What is the source of the wealth managed by Center Stage Planning?
The underlying wealth originates from The Richman Group, a privately held real estate firm Richard Richman founded in 1988. The Richman Group is one of the United States' largest developers and managers of affordable multifamily housing, operating a national portfolio that has generated the family's core capital.
Is Center Stage Planning structured as a single family office or does it operate more like a venture firm?
Center Stage Planning is a true single family office. It manages exclusively Richman family capital and does not accept outside investors. Unlike a venture firm, it deploys capital across a broad mandate — public equities, private real estate, and private equity funds — and measures holding periods in decades.
What investment stages or asset classes does Center Stage Planning typically target?
The office targets mature, durable assets across three primary categories: directly owned multifamily and commercial real estate, concentrated public-equity positions in businesses with wide competitive moats, and limited-partner commitments to middle-market private equity funds. The common thread is an indefinite holding period and a preference for tangible, cash-flowing assets.
Does Center Stage Planning participate in fund commitments or only direct deals?
Center Stage Planning uses both direct investments and fund commitments. Direct ownership is concentrated in real estate and public equities, while private equity exposure is primarily achieved through limited-partner commitments to external buyout funds and occasional co-investment rights.
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