Draft:James H. Simmons III

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James H. Simmons III[edit]

James H. Simmons III (born c. 1966) is an American businessman based in New York City and recognized as one of a few African American senior leaders within private equity real estate.[1]. He is the CEO and Founding Partner of Asland Capital Partners and a former Partner at Ares Management, with previous public sector experience as President and Chief Executive Officer of the Upper Manhattan Empowerment Zone Development Corporation. He is credited with the creation of the first affordable cooperatives in New York State, where offering prices were based on the purchaser’s income.

Simmons facilitated the establishment of former President Bill Clinton’s office in New York following his presidency and collaborated closely with US Representative Charles Rangel, Deputy Mayor Daniel Doctoroff, Governor George Pataki and Board Chairs Richard Parsons and Johnnie Cochran in stimulating investment in the Northern Manhattan communities.

Early Life[edit]

Born in 1966 in Philadelphia, PA, James H. Simmons III is the son of Glenda D. Simmons (née Bennett) and James H. Simmons Jr. He graduated with high honors from St. Peter's High School in New Brunswick, NJ where he was class president. Simmons earned a Bachelor of Science degree in Electrical Engineering and Computer Science from Princeton University, a Master’s degree in Systems Engineering from Virginia Polytechnic Institute and State University, and a Masters of Management degree from Northwestern University’s Kellogg Graduate School of Management.

Career[edit]

Simmons began his career as an Edison Engineer at General Electric before assuming the role of Analyst at Bankers Trust Company. He subsequently worked as a trader for Salomon Smith Barney.

From 1999 to 2003, Simmons initially held the position of Chief Investment Officer at the Upper Manhattan Empowerment Zone Development Corporation, eventually becoming its President and Chief Executive Officer. In this capacity, he managed an investment fund of $250 million and played a pivotal role in the revitalization of 125th Street. Notably, he facilitated the establishment of former President Bill Clinton’s office in the area following his presidency. Simmons collaborated closely with key officials from New York State and New York City, including US Representative Charles Rangel, Deputy Mayor Daniel Doctoroff, Governor George Pataki and Board Chairs Richard Parsons and Johnnie Cochran to stimulate investment in the Northern Manhattan communities, including Harlem, Washington Heights and Inwood.

Simmons joined Ares Management Corporation (formerly Apollo Real Estate Advisors and AREA Property Partners) and eventually became a Partner, a position he held from 2003 to 2018. His responsibilities included fund management and transaction sourcing, with a focus on major metropolitan areas and emerging markets in the United States. During his tenure, Simmons managed institutional separate accounts and a high-performing $485 million private equity fund. One of his notable achievements was the creation of the first affordable cooperative in New York State, where offering prices were based on the purchaser’s income.

Currently, Simmons serves as a member of the Board of Directors of Regency Centers[2] and ScoinHealth. He formerly served on the Board of Directors of LifePoint Health and chaired the Audit Committee for Apollo Strategic Growth Capital Board of Directors, which completed a business combination with Amex Global Business Travel on May 27, 2022 and trades on the NYSE under the ticker GBTG. His professional and non-profit board memberships include the Real Estate Executive Council (Vice Chair)[3] and The Dalton School; The Kellogg Finance Network[4] and the 125th Street Business Improvement District[5]. Additionally, Simmons formerly served on the boards of the Greater Jamaica Development Corporation[6], Helen Keller International, the Kellogg Alumni Council, and as Vice Chairman of the Princeton University National Annual Giving Committee.

Simmons is a founding Board Member of the Council of Urban Professionals[7], a former Scholar at the Robert Toigo Foundation and was recognized as a Young Leader by the French American Foundation. Simmons was also named one of Crain’s 2022 Notable Black Leaders[1].

In 2022, Simmons assumed a significant role as a key investor in the American Cornhole League[8][9]. He has also made investments in early-stage companies in proptech, fintech, healthcare and sports and entertainment. Simmons was recently featured on Bisnow's CRE News Bisnow Reports podcast[10] after his participation on the New York City State of the Market event on November of 2023[11]

Asland Capital Partners[edit]

In early 2019 Simmons founded Asland Capital Partners[12][13][14], where he currently serves as CEO & Managing Partner and heads the investment committee responsible for the firm’s strategic direction and investment strategy. Asland’s mission is to acquire, reposition, and operate multifamily, mixed-use and retail assets in revitalizing sub-markets throughout the United States.

Simmons is actively involved in the day-to-day management of the firm and manages a $250 million private equity fund focused on multifamily value-add and core-plus opportunities.

Notable Transactions[edit]

Some of Simmons' notable transactions include:

  • Department of General Services Headquarters[15]
  • Heritage at Old Town[16][17]
  • Park Lane[18]
  • Two Bridges[19]

References[edit]

  1. ^ a b "2022 Notable Black Leaders". Crain's New York Business.
  2. ^ "Board of Directors". Regency Centers.
  3. ^ "Who we are". Real Estate Executive Council.
  4. ^ "Finance Network - Jim Simmons Bio". Northwestern Kellogg Foundation.
  5. ^ "Board of Directors". 125th Street Bid.
  6. ^ "Greater Jamaica Development Corporation". Non Profit Light.
  7. ^ "Founding Members". CUP USA.
  8. ^ "Perfect Pitch: How American Cornhole League landed investors and consumers". Sports Business Journal.
  9. ^ "Cornhole Has Dreams of NFL-Size Profits". Next in Sports.
  10. ^ "Season 4 - Episode 68". Bisnow Reports Podcast.
  11. ^ "New York City State of the Market Conference". Bisnow.
  12. ^ "Former Ares, Apollo Exec Launches CRE Investment Firm, Buys 2 Apartment Buildings". Bisnow.
  13. ^ "Former Ares Management Partner Launches Asland Capital Partners". GlobeSt.
  14. ^ "Institutional investment manager Asland Capital Partners launches with major investments". Institutional Real Estate, Inc.
  15. ^ "Joint Venture Breaks Ground on $600 Million Northeast Heights Redevelopment in Washington, D.C." Department of General Services.
  16. ^ "Garden-style apartment complex in Old Town Alexandria slated for massive redevelopment". Washington Business Journal. July 6, 2020.
  17. ^ "Heritage at Old Town | Asland Capital Partners | New York City". aslandcap.com. Retrieved 2023-10-25.
  18. ^ "Park Lane | Asland Capital Partners | New York City". aslandcap.com. Retrieved 2023-10-25.
  19. ^ "Two Bridges | Asland Capital Partners | New York City". aslandcap.com. Retrieved 2023-10-25.
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