PRP Real Assets hires Cherkes-Bishko to head capital formation

Liat Cherkes-Bishko is joining PRP Real Assets as managing director and head of capital formation, a newly expanded role covering fundraising, investor relations, and marketing, IREI reports. She is based in the Washington, D.C., area.

PRP invests in mission-critical assets, multifamily, and special situations, and the firm says the hire supports its push to broaden an institutional investor base across those strategies. Putting the whole capital formation operation in one named seat treats fundraising as a standing function rather than a series of deal-by-deal efforts.

Cherkes-Bishko brings more than 20 years of experience spanning real estate law, distressed real estate investing, asset management, and capital formation. She spent more than a decade at Turner Impact Capital, starting as an investment professional before taking on senior capital formation and investor relations responsibilities across the firm's strategies. Turner Impact grew to approximately $2.2 billion in committed capital during her tenure, and Cherkes-Bishko managed investor relationships along the way.

The hire puts a fundraiser with institutional ties in front of the allocator base PRP is chasing. Capital formation is a relationship business, and the next fund cycle under her name will show how far those relationships travel.