LPs

Cresset, led by ex-Willis Stein, Sterling Partners execs, adds Shevlin, others to opportunity zone push

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Jeremy Shelvin, Whitney Webb, Jason Mussetter, Cresset Capital, opportunity zones, Hines, Larry Levy
Photo or Jeremy Shelvin sourced from cressetcapital.com.
  • Why this is important: Firms gear up to take advantage of Opportunity Zones
  • Contact Jeremy Shevlin at jshevlin@cressetcapital.com

Cresset has added Jeremy Shevlin, Whitney Webb and Jason Mussetter to its Denver, San Diego and Minneapolis regional offices, respectively.

Shevlin confirmed his hiring to Buyouts and his LinkedIn page says he has been working for Cresset in the Denver area since January as a regional managing director.  Cresset announced his hiring March 12.

Before joining Cresset, Shevlin ran a multifamily office for 15 years. Before that he was a wealth-management adviser at Whittle & Skok Financial Services.

At Cresset, Shevlin plans to focus on direct real estate coupled with opportunity zones.

He touted a recent investment deal with Hines and Levy Family Partners, the family office of the Chicago real estate investor Larry Levy, to build a residential high-rise in downtown Houston.

“There is a lot of talk in the OZ space and not a lot of action,” Shevlin added. “We are glad to be first movers on this with client commitments in hand and an investment/building closed.”

Cresset has another building under a letter of intent and 22 vetted projects in its pipeline, Shevlin said. He added that only a handful of those will become closed deals.

Webb’s LinkedIn page says she has also been with Cresset since January, as director of family wealth education. She did not respond to an email seeking confirmation, but Cresset announced her hiring Jan. 30.

Cresset announced Mussetter’s hiring in a Jan. 31 press release as a managing director and investment strategist in its recently created Minneapolis office. He also did not respond to an email seeking confirmation.

All three are now listed as employees on Cresset’s website.

Cresset, Chicago, has been extremely active on opportunity zones, launching the $500 million Cresset-Diversified QOZ Fund in partnership with Levy’s LCM Opportunity last year.

Cresset, founded in 2017 by Eric Becker and Avy Stein, offers a range of financial services, including wealth management and a family office.  It has nearly $4 billion in assets under management and more than 90 employees.

The hirings were first reported by Financial Adviser.