Profile

Randy Zisler
Chief Investment Officer
Encore Enterprises


  • Chief Investment Officer of Encore Enterprises, LLC. Encore acquired the entire Zisler Capital Associates team. Encore is a 15-year old, Dallas-based firm which has made some exceptional timing decisions, such as selling its entire portfolio at the top of the market in 2007 and rejected $500 million of joint venture capital. Responsibilities include creating new investment products and strategies, reviewing and approving all investments, coordinating the capital raising teams, and working closely with Encores property sectors, which include office, retail, multifamily, hospitality, land, and public/private projects. Zisler also prepares frequent strategy papers pertaining to market dynamics, risk, and portfolio strategy.
  • CEO and Managing Director, Zisler Capital Associates, LLC, Denver, Colorado. Zisler Capital Associates was a global capital raising and custom research firm with deep knowledge of real estate fixed income, mortgage backed securities, REITs, and corporate finance.
  • Chief Investment Officer to Merv Griffin, Griffin & Co., Beverly Hills, CA. Zisler, personally recruited by Mr. Griffin, provided capital markets and investment advice regarding acquisitions and dispositions. Zisler left Griffin the year of Mr. Griffins death.
  • Co-Head and Managing Director of Investment Banking, Jones Lang LaSalle, New York, NY and Los Angeles, CA; clients included insurance companies, pension funds, ultra high net worth clients, and money managers.
  • CEO and Co-Founder, Apogee Associates, LLC, New York, NY. Consulting, including financial planning, risk management, customized research, white papers, and raising institutional and private capital to fund JVs;
  • Managing Director, Nomura Securities International, Inc, (CMBS group), New York, NY. Recruited to head real estate research. Duties included financial engineering of private and public fixed income securities (including REITs, CMBS, and other complex derivatives
  • Managing Director, Pension Consulting Alliance, LLC, Princeton, NJ. Recruited by PCA, Zisler advised many corporate, public and Taft-Hartley pension funds. Clients included IBM, AT&T, GM, CALPERS, Government of Singapore, and many others.
  • President and CEO, Russell-Zisler (a joint venture with the Frank Russell Company), Princeton, NJ. Developed novel real estate investment metrics and advised many pension funds.
  • Executive Director and Research Director, Goldman Sachs & Co, New York, NY. Established Wall Streets first real estate research group, helped raised capital for its first real estate fund, INPROP, participated in a number of signature transactions, managed an extensive real estate research and publications program, and spoke extensively around the world on real estate investment strategy.
  • Senior Vice President, Landauer Associates, New York, NY. I spent six months at Landauer before being recruited in a national search by Goldman Sachs & Co.
  • Partner, Jones Lang Wootton (U.S. office of global U.K. firm); I played a material role in launching JLWs pension money management business, now called Clarion.
  • Assistant professor, Princeton University. I taught macro and micro economics and finance in the planning department. Other courses included an urban policy course and a seminar in the economics of land use controls.
  • Project Engineer. U. S. Naval Ship Research and Development Center, Washington, D.C., Structural Mechanics Laboratory. Applied photo-elastic and strain gauge techniques to the analysis of ship propellers, ship hulls and bulkheads, and catapult systems.
Education and certification:

- Ph.D., Princeton University (economics and planning; dissertation topic: The Demand for Factors of Production in the Office Industry: A Disequilibrium Model of Office Building Investment and Utilizationo M.A., Princeton University (urban planning; thesis: An Economic Approach to the Intertemporal and Spatial Planning of Large Urban Sites
- M.A.U.P., Princeton University (architectural design)
- M.S.E., The Catholic University of America (Mechanical engineering and systems Analysis) (Thesis: A Finite Element Approach to the Analysis of the Deflection of Large Thin Plates)
- A.B., Princeton University
- Numerous fellowships, e.g., Melon, NSF, HUD

Personal

 - Married since 1977 with two children and two grandchildren
- Volunteer work 
- Sporadic running: I completed three NYC Marathons (1993, 1994, and 1996), finishing each in the top third followed by numerous knee injuries; cycling; paddle tennis; pool
- Public speaking at ULI and other venues on real estate and investment strategy; also speaker on non-real estate topics, such as The Art and Iconography of the Bubonic Plague of 1348: An Economists Perspective
- Interests: Opera, fine cuisine, travel, architecture, art, mathematics and economic theory, civil liberties and constitutional issues; model railroading (N gauge, urban, 1950s Jersey City, including buildings)




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