Wheelock Street Capital

All investment decisions are run by the partnership group led by co-founders Merrick “Rick” Kleeman and Jonathan Paul. The firm operates without rigid hierarchies, using a collaborative approach to promote internal debate. Jeffrey Laliberte serves as Head of Acquisitions and oversees strategy implementation, while dedicated vertical leads like Patrick Campbell (hospitality) and Daniel Green (residential land) drive sector-specific execution.

Wheelock sources opportunities through its founding partners' 30-year relationships in institutional real estate, combined with in-house asset-specific expertise within its hospitality, residential land, industrial, and retail verticals. The firm invests significant time on the front end of every process to surface issues early, which positions it as a more reliable counterparty and encourages repeat business with trusted joint venture partners and intermediaries.

Wheelock manages closed-end and open-end funds and invests directly in real estate assets and portfolios. It does not operate as a fund-of-funds making commitments to external managers. The firm invests directly or jointly with operating partners, constructing entity-level or asset-level private equity transactions across all major property types.

Wheelock targets two main risk profiles. Its flagship opportunistic and value-add funds seek investments requiring repositioning, development, or operational turnaround, while its Long Term Value Fund acquires stabilized, cash-flowing assets in major domestic markets with strong income growth potential. The firm does not invest in core assets through its flagship vehicles.

Wheelock actively creates joint ventures with local operators, as evidenced by its strategic partnerships in the Boston and Nashville markets, where it has seeded several ventures and deployed approximately $470 million of equity over five years. The firm selects joint venture partners who share its investment philosophy, and it re-invests with trusted counterparties for repeat transactions.