Speakers

2025 Americas Real Estate Client Conference

Guest Speakers

	Sarah Anderson Managing Director, Investments, University of Missouri System Ms. Anderson currently serves as a Managing Director within the Office of Investments, joining the University of Missouri System in 2006. She is involved in the management of the University’s $10 billion in assets across three portfolios, with primary responsibility over Private Markets and Operations. Ms. Anderson currently serves on the US Policy Committee for the Institutional Limited Partners Association (ILPA). She is a member of the Central Bank Young Executive Board and the Father Tolton Advisory Board. Ms. Anderson earned a Bachelor of Science in Business Administration-Finance from Southern Illinois University-Edwardsville.
	Mark Colombo Senior Vice President of FedEx Marketing, Solutions & Sales Mr. Colombo serves as Senior Vice President of FedEx Marketing, Solutions & Sales in Memphis, Tennessee. In this capacity, he leads corporate strategy and revenue management; customer solutions, and overall sales execution, go-to-market strategy, and long-term strategic direction. Since joining FedEx in 2000, Mr. Colombo has played key roles in Marketing, Solutions, and Sales. Prior to his current position, Mr. Colombo oversaw Digital Access Marketing, Product Development, Supply Chain Management, Corporate Strategy, and Customer Experience. Mr. Colombo attended University of Missouri-Columbia earning an M.S. in Economics in 1992. He also holds an M.S. in Finance from University of Birmingham and a B.A. in Economics and Political Science from University of Missouri-Columbia.
	Francis (Frank) J. Kelly Founder & Managing Partner, Fulcrum Macro Advisors LLC and Senior Political Strategist for DWS Frank is the Founder and Managing Partner of Fulcrum Macro Advisors LLC, a political risk advisory firm based in Washington, DC. Having worked as a senior executive on Wall Street for close to 30 years as well as having served in senior government roles, Frank brings extensive global experience and insight into the public policy decision-making process and its impact on global markets. Frank joined Deutsche Bank in 2003 as the Bank’s first Head of Government Affairs and Chief Political Strategist. In this role he advised the Bank’s top institutional clients globally on US and geopolitical issues. He also had extensive experience in mergers and acquisitions, establishing the Bank’s Direct Investment Advisory Group (DIAG), advising clients on sensitive national and economic security related mergers and acquisitions.
	Kevin MacKenzie President, Americas JLL Capital Markets Mr. Mackenzie is the President of JLL Capital Markets, Americas, and a member if the JLL Executive Committee responsible for the overall direction of the firm's 30 Capital Markets offices. During his career, Kevin has executed in excess of 980 transactions totaling more than $38 billion, across all property sectors and regions of the United States. His core clientele exceeds an extensive line-up: CalSTRS, Clear Sky Capital Partners, Hines, LBA Realty, NexMetro, Oaktree Capital Management, PIMCO, Manulife, and the ViaWest Group, to name a few. Mr. Mackenzie joined JLL as part of the HFF acquisition and has more than 22 years of experience in commercial real estate investment banking. He specializes in the execution and expansion of the firm’s capital markets platform through the representation of institutional and private owners of institutional-grade commercial real estate properties throughout the United States. Kevin started at HFF in March 2004. Before that, he worked in strategic finance and business development roles at various venture capital-backed technology companies in Silicon Valley. Mr. Mackenzie graduated Magna Cum Laude from Cal Poly with a B.S. in Business and is an active member of the Real Estate Founders Circle. In addition, he is a member of ULI sitting on the national Urban Development Mixed Use Council as well as the LA & OC Capital Markets Council, and the GCU Dean's Advisory Board.
	Andrew Mitro Managing Director, Stepstone Group Mr. Mitro is a member of the real estate team and focuses on various investment and portfolio management activities. Prior to StepStone, Mr. Mitro was a senior vice president at Courtland Partners, Ltd., an international real estate advisory firm which integrated with StepStone Real Estate. Mr. Mitro was responsible for providing investment consulting services to Courtland clients and has significant experience working with clients based outside the United States. Mr. Mitro received an MBA from Case Western Reserve University and a BA from Ohio State University.
	JP Rachmaninoff Director of Real Estate, Tennessee Consolidated Retirement System Mr. Rachmaninoff is the Director of Real Estate at Tennessee Consolidated Retirement System (TCRS). TCRS manages $72 billion in retirement assets, of which 10% is invested in Real Estate. Mr. Rachmaninoff’s primary responsibilities include oversight and management of TCRS’ core and non-core real estate portfolio. The portfolio is comprised primarily of direct Separate Account investments which are complimented by commingled funds and an internally managed REIT portfolio. Before to joining TCRS in 2014, Mr. Rachmaninoff served as Senior Real Estate Investment Officer for New York State Common Retirement Fund (NYSCRF). Prior to his move to the plan sponsor community, he spent 12 years at Henderson Global Investors North America (now part of Nuveen) as the Director of Acquisitions and Dispositions. Before Henderson, he worked with several other large real estate equity managers including Heitman Financial, J.E. Robert Companies, and The Prudential Realty Group (PGIM). Mr. Rachmaninoff earned his BBA from the University of Michigan with a concentration in Accounting and his MBA from the University of Texas at Austin with a concentration in Real Estate Finance. He is actively involved in the Pension Real Estate Association, serving as a member of the Institutional Investor Council, the Publications Committee and serves as co-chair for the Development Affinity Group. In his spare time JP enjoys fly fishing, especially in Alaska where he lived for five years early on in his career.

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Investments are subject to risk, including market fluctuations, regulatory change, possible delays in repayment and loss of income and principal invested. The value of investments can fall as well as rise and you might not get back the amount originally invested at any point in time.

Investment in real estate may be or become nonperforming after acquisition for a wide variety of reasons. Nonperforming real estate investment may require substantial workout negotiations and/ or restructuring. Environmental liabilities may pose a risk such that the owner or operator of real property may become liable for the costs of removal or remediation of certain hazardous substances released on, about, under, or in its property. Additionally, to the extent real estate investments are made in foreign countries, such countries may prove to be politically or economically unstable. Finally, exposure to fluctuations in currency exchange rates may affect the value of a real estate investment.

Key Risks of Real Estate Investments: Investing in Real Estate is subject to various risks, including but not limited to the following: Adverse changes in economic conditions including changes in the financial conditions of tenants, buyer and sellers, changes in the availability of debt financing, changes in interest rates, real estate tax rates and other operating expenses; Adverse changes in law and regulation including environmental laws and regulations, zoning laws and other governmental rules and fiscal policies; Environmental claims arising in respect of real estate acquired with undisclosed or unknown environmental problems or as to which inadequate reserves have been established; changes in the relative popularity of property types and locations; risks and operating problems arising out of the presence of certain construction materials; and currency/exchange rate risks where the investments are denominated in a currency other than the investor’s home currency.

An investment in real estate involves a high degree of risk, including possible loss of principal amount invested, and is suitable only for sophisticated investors who can bear such losses. The value of shares/ units and their derived income may fall or rise.

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061248-9 (05/2025) (05/2026)

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