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CEO Beckwith Exits Formation Capital

CEO Beckwith Exits Formation Capital

Brian Beckwith is moving on from Formation Capital after serving as CEO of the Atlanta-based private equity firm for nearly a decade.

Formation specializes in senior housing and care investments. The firm has sponsored about $2 billion of equity across senior living, skilled nursing and other post-acute services since it was founded in 1999. Formation currently manages private funds totaling $3.5 billion assets under management.

“I greatly enjoyed my time at Formation, and I am very proud of our accomplishments over the past nine years and have a lot of confidence in the team at Formation,” Beckwith told Senior Housing News. “I am also looking forward to making some announcements about my next steps in the industry during the next couple of months.”

During his tenure with Formation, the company was involved in a number of high-profile deals, including the acquisition of a $400 million senior living portfolio, the $1.05 billion acquisition of 80 senior living properties, and the $870 million purchase of Extendicare. More recently, the firm was in disposition mode, including the sale of skilled nursing portfolios and behavioral health company RHA last year.

Prior to joining Formation in April 2011, Beckwith was Senior Managing Director of GE Capital’s Healthcare Financial Services – Real Estate team. He has held a variety of leadership positions within the senior living industry, including serving on trade association boards.

“Brian has been a great contributor and leader at Formation Capital and he will be missed,” Formation Co-Founder and Executive Chairman Arnold Whitman told SHN. “We wish the best for him and his future endeavors.”

The post CEO Beckwith Exits Formation Capital appeared first on Senior Housing News.



This post first appeared on Business Insight And Information - Senior Housing News, please read the originial post: here

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