Sag Harbor Capital Management, LLC

Jonathan Lieberman serves as Chief Investment Officer and Michael Goldstein as Chief Executive Officer. Lieberman shapes the firm's direct investment strategy across real estate and credit; Goldstein oversees operations and client relationships. Both founded the firm in 2005 (per public record).

Sag Harbor relies on a network of relationships with banks, brokers, and institutional partners to source middle-market real estate and credit deals. The firm does not operate a large origination team or a public deal-sourcing platform, instead pursuing select opportunities where it can add underwriting or structuring expertise.

Sag Harbor is an independent asset manager, not a family office. The firm manages capital for institutional investors including pension funds, endowments, and family offices. Its principals do not publicly represent a single-family wealth pool, and the firm's AUM comes from multiple limited partners (per the firm's SEC filings).

Sag Harbor focuses on middle-market direct investments and co-investments in real estate, private credit, and infrastructure. The firm targets value-add real estate transactions, bridge or mezzanine lending, and asset-backed credit structures. It does not typically engage in venture-stage or early-stage equity investments.

Sag Harbor structures its capital deployment through a mix of direct investments and commingled funds. In 2023, the firm closed a $200 million credit fund for commercial real estate bridge lending, demonstrating its capacity to pool LP capital for a specific strategy. The firm also executes separate-account mandates for select clients.

Sag Harbor does not publicly disclose a list of avoided sectors, but its known investments are concentrated in real estate, credit, and infrastructure. The firm does not appear to invest in early-stage technology, healthcare, or energy-transition projects, based on public records. Its narrow mandate suggests a preference for asset-backed, cash-flow-generating opportunities.

Sag Harbor's founders, Jonathan Lieberman and Michael Goldstein, do not publicly disclose personal wealth origins. Lieberman's prior roles at Soros Fund Management and Goldman Sachs indicate a career in finance; Goldstein's background includes real estate lending at Centerline Capital Group. Neither has disclosed family-enterprise wealth (per public record).