Terrace Tower Group

Terrace Tower Group

John Saunders AO established Terrace Tower Group in 1985 after stepping back from Westfield, the retail property company he co-founded with Frank Lowy. Saunders emigrated to Australia in 1950 and built the firm on commercial real estate before his death in 1997. His daughters Monica Saunders-Weinberg and Betty Klimenko AM now serve as co-owners and co-vice chairs, while the Saunders Family Foundation continues targeted philanthropic work. The firm invests in commercial real estate, private credit through direct origination and co-lending, and private equity alongside hedge fund commitments. Holdings include Westfield Eastgardens, Supa Centa Moore Park, One Financial Centre in Portland, and 1900 Main in Irvine. TTG operates in Australia and the United States with a preference for lead or co-lead roles in private credit transactions. External managers supplement internal direct investments when sector expertise lies outside the 12-person non-real estate team. Richard Weinberg oversees operations from bases in Sydney and New York. The investment team splits between those cities and reports to CIO Bill Brown. Monica Saunders-Weinberg and Betty Klimenko AM maintain board oversight while pursuing separate motorsport and production interests. The Saunders Family Foundation and Sydney Jewish Museum represent the primary philanthropic vehicles. No material operational announcements have surfaced in the past 24 months. TTG preserves a multi-generational ownership structure in which second-generation principals retain voting control and the CEO reports directly to them. This arrangement allows the firm to decline deployments that fail internal return hurdles without external LP pressure.