NEW YORK CITY—Real estate investment veteran Jarret Cohen said Wednesday he had left Fir Tree Partners, where he was head of private real estate, to launch his own firm. Known as Jadian Capital LLC, the new venture will make investments throughout the capital structures of assets and companies.

“Despite the challenging environment, we continue to uncover compelling real estate opportunities, even if they are sometimes hiding in non-real estate sectors,” says Cohen. “We look forward to capitalizing on these situations in our new firm.”

Cohen, who joined Fir Tree in 2010, will asset-manage the private investments held by Fir Tree's Real Estate Fund III, which closed in 2014 with more than $750 million in committed capital. Jadian and Fir Tree will collaborate on the winding-down of these assets over the next two to three years. “Fir Tree has been a very supportive partner, and I look forward to working together to maximize the value of the remaining assets in the fund,” Cohen says.

At Fir Tree, Cohen oversaw numerous investments in both equity and debt of real estate-related assets, and in companies across traditional and alternative real estate sectors alike. Among the investments in which Cohen played a key role were the creation of private solar utility sPower, which recently sold to AES and Alberta Investment Management for $1.6 billion; the Gramercy Europe platform for net-leased industrial assets in Western Europe; and, more locally, the creation of a platform to acquire and work out non-performing loans secured by rent-stabilized multifamily properties in New York City.