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NEW YORK CITY-Saying market conditions are ripe for such a move, two former UBS managing directors Jeffrey Goldberger and Andrew Cohen have launched Atlas Capital Group LLC. The firm will pursue opportunistic, value-added equity investments in major global cities. The initial emphasis will be focused here and in London.

Cohen says the formation of Atlas is the "next logical step" for the team. "I had a great tenure at UBS. I really appreciated the opportunities that I received to apply the bank's resources, to think and act in an entrepreneurial way on behalf of my clients, and to become a top producer." Cohen joined UBS in 2001 and was initially responsible for structuring and closing the commercial real estate group's large and complex transactions. Prior to joining UBS, he had been a practicing attorney for seven years at firms including Schulte Roth & Zabel.

Goldberger calls the launch of Atlas "the time for me to go back to my roots as an entrepreneur." Goldberger joined UBS in 2002 to build and run its real estate equity investment platform. Prior to that, he was president and a principal of the Witkoff Group. While there, he oversaw the acquisition of 17 million sf of commercial properties worth $3 billion, along with the company's operations. Previously, he was founding principal of JAG Capital, a firm engaged in various types of debt and equity investments. "Given current market conditions, this is an excellent time for us to do this," Goldberger says. "It was exciting to help UBS build its equity platform over the past few years, and I look forward to doing business with UBS in the future."