# Lubert-Adler

Lubert-Adler is an Asset Manager based in Philadelphia, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Philadelphia, United States
- **Region:** North America
- **Address:** Philadelphia, PA, United States
- **Founded:** 1997
- **Assets under management:** Undisclosed
- **Website:** lubertadler.com

## Regulatory record

- **CRD number:** 155201
- **SEC file number:** 801-71911
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/155201

## About

Lubert-Adler is a Philadelphia-based SEC-registered investment adviser since 2010. The firm manages $2.8 billion in assets, $2.5 billion on a discretionary basis. It has 24 employees and 10 investment advisers.

## Sectors

- Real Estate
- Private Equity
- Special Situations

## People

- Dean Adler — Co-Founder & CEO
- Ira Lubert — Co-Founder & Chairman

## Questions

### How does Lubert-Adler differ from a typical real estate private equity firm?

The firm combines direct property acquisition, distressed debt investment, and the creation of operating companies — businesses that manage, lease, or reposition real estate — under a single platform. Most real estate GPs outsource asset management; Lubert-Adler embeds these capabilities in-house, which allows it to pursue complex situations requiring operational control rather than passive ownership.

### Does Lubert-Adler invest only in the Philadelphia area?

No. While the firm is headquartered in Philadelphia and maintains a strong East Coast concentration, its investments span major US markets including the Sun Belt and Midwest. Deal flow has historically been weighted toward Pennsylvania, New Jersey, and the Mid-Atlantic, but the firm has acquired assets nationally across retail, multi-family, office, industrial, and hospitality sectors over its history.

### How is Lubert-Adler related to Independence Capital Partners?

Ira Lubert co-founded Independence Capital Partners, a Philadelphia-based platform that houses multiple private equity fund strategies. Lubert-Adler operates as the real estate arm within this broader ecosystem, sharing back-office infrastructure and some LP relationships while maintaining independent investment decision-making focused exclusively on real assets.

### What investment structures does Lubert-Adler use?

The firm employs commingled private real estate funds, separate accounts for large institutional LPs, and direct co-investment vehicles. Its flexible mandate allows it to acquire assets outright, buy distressed debt secured by properties, or take controlling stakes in operating companies that lease or manage real estate portfolios.

### What is Ira Lubert's connection to the Pittsburgh Penguins?

Ira Lubert is a minority owner of the Pittsburgh Penguins NHL franchise. He purchased a significant stake in the team in 2021 alongside the Fenway Sports Group acquisition. This investment is a personal holding and is not managed by Lubert-Adler, though it reflects Lubert's broader private equity and sports ownership interests.

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- [Kyushu Venture Partners](https://altss.com/profile/kyushu-venture-partners)
- [LC Nueva Capital](https://altss.com/profile/lc-nueva-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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