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Paul Turovsky

Paul TurovskyPrincipal
True North Management Group, LLC

Mr. Turovsky is a Founding Principal of True North Management Group. True North Management Group is a privately held real estate investment management firm founded in 2004 and headquartered in White Plains, NY. The firm currently manages over $500 million in assets for institutional investors and has recently had a first closing for its second high yield investment fund to focus on the acquisition of distressed real estate loans and properties. The fund is expected to total over $500 million in capital commitments.

Until year-end 2003, Mr. Turovsky was a Managing Director of Deutsche Bank Securities and Fund Manager for DB Real Estate’s Mezzanine Investment Funds. Under the direction of Mr. Turovsky, the group became a leader in the real estate mezzanine/high yield debt field, originating almost $1.5 billion in more than 80 domestic real estate mezzanine transactions and raising over $800 million in institutional capital from more than 25 investors. Prior to the Bankers Trust’s merger with Deutsche Bank, Mr. Turovsky was responsible (from 1991 to 1999) for the overall management of origination, trading and distribution of the firm’s mezzanine debt, CMBS and whole loan products and his role as Fund Manager for the mezzanine funds was a natural outgrowth of these activities. Mr. Turovsky also played a key role in the management of DB Real Estate, the $38 billion real estate investment management division of Deutsche Bank, as a member of the division’s Management Committee and Equity Investment Committee. He played an instrumental role in the growth of the business from its founding in 1984 with only 6 employees to a staff of over 500 employees with revenues of over $600 million by the time of his departure. Mr. Turovsky joined Bankers Trust’s Real Estate Investment Banking Group in 1984.

Mr. Turovsky has professional affiliations that include Pension Real Estate Association (PREA) and Commercial Mortgage Securities Association (CMSA). He has been a speaker and panelist at many industry functions, conferences and events.

In terms of other areas of engagement, Mr. Turovsky is Vice-Chair of the Board of Directors of the Binghamton University Foundation and Chair of Binghamton University’s recently launched $100 million fundraising campaign. As a member of the Board, he serves on the Executive Committee, the Investment Committee and the Foundation Housing Corporation. He received the Harpur College Alumni Recognition Award in 1999.

Mr. Turovsky is a member of the Executive Committee of the Board of Directors and Treasurer of the Washingtonville Housing Alliance in Mamaroneck, NY. Washingtonville is a not-for-profit builder and owner of affordable housing, as well as providing other forms of housing and rental assistance for residents of the Mamaroneck community.

He received a B.A. from Binghamton University in 1973 and an M.A. and Ph.D. in Latin American History from the University of California at Los Angeles, in 1975 and 1980, respectively. As an undergraduate, he was elected to Phi Beta Kappa. As a graduate student, he was a recipient of both a four year University of California Regents Teaching and Research Fellowship and a Doherty Foundation Fellowship administered by Princeton University for doctoral research in Latin America for a period of one year.

Mr. Turovsky resides in Larchmont, New York with his wife Monica and two daughters.