In this episode of The Distribution, host Brandon Sedloff sits down with David Robertson, CEO and Chief Investment Officer of FrontRange Capital, to unpack the evolution of strategic capital in real estate. David shares his unexpected journey from a childhood in Burbank’s entertainment industry to Harvard Business School and eventually into investment banking and real estate. The conversation explores how his experiences at Aimco shaped his perspective on capital structures, partnerships, and the growing role of GP stakes investing. Together, they discuss how operator needs have evolved, the nuances of co-GP relationships, and why alignment and integrity matter as much as capital itself.

They discuss:

• The formative experiences that shaped David’s career in real estate and finance
• How changes in the 1990s REIT legislation fueled the institutionalization of real estate
• Lessons learned from building Aimco and the origins of FrontRange Capital
• The continuum of operator growth and the evolving role of strategic capital
• Misconceptions about GP capital and how co-GP partnerships create accretive value
• What investors find compelling about GP stakes and co-GP structures
• The importance of personal alignment and partnership dynamics in long-term success
• David’s outlook on the future of GP investing and operator partnerships