Liberty Mutual Investments (“LMI”), the investment firm for Liberty Mutual Group (“Liberty”), today announced a strategic partnership with Thayer Street Partners (“Thayer Street”), a private investment firm that provides flexible capital solutions to recurring revenue businesses in the financial services, business services, and real estate services sectors. The collaboration will focus on making joint strategic investments in companies spanning real estate and real estate-adjacent services.

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In conjunction with the announcement, Thayer Street and LMI are jointly investing, alongside other investors, in SunHaven Management (“SunHaven”), a national platform for community association management. The partnership builds on the two firms’ initial joint investment, alongside other investors, earlier this year in Grove Point Marinas, an acquirer and operator of marina properties in the U.S.

SunHaven partners with the founders of independently owned community management firms across the U.S., providing a succession path for owners while driving revenue and margin growth through centralized operations, AI-driven efficiency, and expanded ancillary services. The company is building technology that supports long-term operational growth and continuity while creating a streamlined customer experience for homeowners and their boards. Founded in 2025, SunHaven Management is led by Founder and Chief Executive Officer, Elliot Cohen, who has spent his career running service-driven residential businesses and leading the integration of technology and AI into large-scale field operations. Cohen most recently served as CEO of Sears Home Services, one of the largest appliance repair and home warranty providers in the U.S., after previously serving as Chief Business & Corporate Development Officer of ADT, a residential security monitoring company.

“We’re pleased to partner with Thayer Street as we seek unique opportunities across the real estate industry where we can support management teams who are building scalable businesses and help them create lasting value,” said Christopher Finn, Managing Director and Head of Real Estate at Liberty Mutual Investments. “We look forward to continued collaboration with Thayer Street and to jointly supporting Elliot and the SunHaven team as they build a durable platform in the sector.”

“Our partnership with LMI marks an exciting new chapter in our firm’s progression and further accelerates our ability to combine customized capital solutions and growth support as we help founders scale within the lower middle market,” said Josh Koplewicz, Founder and Managing Partner of Thayer Street Partners. “We are looking forward to aiding in SunHaven’s growth and furthering our joint exploration of opportunities in fragmented areas of the real estate services sector alongside LMI.”

LMI invests more than $130 billion of long-term capital globally across its integrated platform on behalf of Liberty. LMI’s real estate team targets core-plus, value-add, and opportunistic investments across all major property sectors, including multifamily, student housing, senior housing, and industrial, in addition to real estate operating and services businesses.

About Liberty Mutual Investments

Liberty Mutual Investments (“LMI”) is the investment firm for Liberty Mutual Group (“Liberty”), a global insurance and capital solutions partner. With deep expertise in liquid, credit, and alternative strategies, LMI invests more than $130B of capital globally, taking a long-term approach across its integrated platform. LMI has a clear purpose: build enduring businesses side-by-side with our partners, drive economic growth, and generate superior risk-adjusted returns that power Liberty’s strategy and secure its promises.

Liberty Mutual Group Asset Management Inc. does business under the name Liberty Mutual Investments. For more information, visit https://www.libertymutualinvestments.com/.

About Thayer Street Partners

Thayer Street Partners is a private investment firm that provides flexible capital solutions to growing recurring revenue businesses in the lower middle market. The firm partners with entrepreneurial management teams in the financial services, business services, and real estate services sectors, investing through customized, hybrid structures to support organic growth, M&A acceleration and long-term value creation. For more information, please visit www.thayerstreet.com.

Important Information and Disclosures

This press release is provided for informational purposes only and does not constitute investment advice or an offer to sell, or a solicitation of an offer to buy, any securities or interests in any investment fund or vehicle. Liberty Mutual Group Asset Management Inc. (d/b/a Liberty Mutual Investments) provides investment advisory and management services only to insurance companies and wholly owned direct or indirect subsidiaries of Liberty. This press release may contain forward-looking statements that are as of the date of this press release; actual results may differ materially. Neither Liberty nor Thayer Street undertakes an obligation to update such statements. Additional information is available at www.libertymutualgroup.com/investors.

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