Keystone Capital Partners

Fredric Zaino leads investment decisions as Founder, Managing Partner, and CIO. He previously worked at Millennium Management, the multi-strategy hedge fund. Danny Wainstein, also a Founder and Managing Partner, shares leadership duties. The specific division of responsibilities between Zaino and Wainstein is not publicly detailed.

Keystone's real estate portfolio includes a mixed-use and hospitality portfolio in New York, a Dubai project called California Village, and the Hilton Hotel Doha in Qatar. The firm does not publicly describe its sourcing process. The New York and Doha assets suggest relationships with local operating partners, while the Dubai exposure points to development-stage access.

Keystone holds exposure to Nevada Canyon Gold, a publicly traded gold royalty company listed on the OTC market. The stake places Keystone in the natural-resources royalty space — an uncommon sleeve for a Hong Kong-based manager whose primary activities include venture capital and real estate. The size and acquisition date of the position are not public.