Our Team

KHP Capital Partners is led by a team of experienced investment professionals with significant experience in both hotel operations and principal real estate investment. The firm’s managing partners have over 90 years of collective hospitality experience and have worked closely together for the last 15 years.

  • Alan Forman

    Sr. Advisor, Strategic Growth

  • Amy Yeung

    Accounting Manager

  • Anuujin Banzragch

    Staff Accountant

  • Ben Rowe

    Managing Partner

  • Charlie Kim

    VP, Investments

  • Claire Benninger

    Director, Finance & Asset Mgmt.

  • Connie Chan

    VP, Corporate Finance

  • Dane Patunoff

    SVP, Development & Construction

  • Ellie Galiardo

    Sr. Analyst

  • Eric Moulton

    SVP, Asset Management

  • Hyun Lee

    Sr. Analyst, Investments

  • Jared Nemet

    Analyst, Investments

  • Jeff Stulmaker

    Partner & Chief Investment Officer

  • Joe Long

    Managing Partner

  • Josefina Radcliffe

    VP, Asset Management

  • Judy Miles

    EVP, General Counsel

  • Kelvin Wong

    Director, Finance & Tax

  • Louis Petauton

    Analyst, Asset Management

  • Mario Munoz

    Sr. PM, Development & Construction

  • Matthias Kowalsky

    SVP, Finance & Administration

  • Michelle Fraser

    Accounting Manager

  • Mike Depatie

    Founding Partner

  • Mike Long

    VP, Asset Management

  • Rich Cohen

    Sr. PM, Development & Construction

  • Steve Reinstein

    VP, Investments

  • Susan Low

    Director, Accounting

  • Wandee Chivatakarn

    Executive Assistant

Alan Forman

Alan Forman, Senior Advisor, Strategic Growth, joined KHP Capital Partners in May 2022. In this role, Alan works closely with the Managing Partners and other Investment Committee members, providing advice and perspective to support the Manager’s growth, performance improvement, investor communications and capital raising efforts. Alan serves as a key sounding board for a variety of decisions related to the ongoing management and longer-term strategic planning for the Manager’s fund-management business as well as the strategies and practices employed by the Manager’s funds.

Alan recently retired from the Yale University Investments Office after a 31-year career where he was the Director leading the University’s real estate investment effort. During his tenure at Yale, the University was a pioneer in the investment and management of its endowment and was one of the top-performing institutional investors in the world. While at Yale, Alan succeeded in sourcing and investing billions of dollars of the University’s capital, and established Yale as a premier strategic partner for many up-and-coming real estate private equity firms.

Alan currently serves on the Board of Directors of JBG Smith, a NYSE-listed company. From the firm’s listing until May of 2022 he chaired JBGS’ Nominating and Corporate Governance Committee. He also serves on the firm’s Compensation Committee. Alan also served on the Board of Directors of two other NYSE-listed companies, Acadia Realty Trust and Stemline Therapeutics, serving on and chairing committees at both firms. Alan also served on the Board of Directors of Kimpton Group Holding LLC from September 2004 to January 2015, concluding with its sale to InterContinental Hotels Group. He also served on the Investment Committee of Dartmouth College from 2010-2016.

Alan received a B.A. from Dartmouth College and an M.B.A. from NYU’s Stern Graduate School of Business.

Amy Yeung

Amy serves as an Accounting Manager with KHP Capital Partners. Previously, Amy worked for Kimpton Hotels & Restaurants in its corporate accounting department. Amy holds a bachelors in Business Management Economics from the University of California, Santa Cruz.

Anuujin Banzragch

Anuujin serves as a Staff Accountant for KHP Capital Partners. Prior to joining KHP Capital Partners, Anuujin worked as a Staff Accountant for SunSource. Anuujin holds a Bachelor of Science degree in Accountancy from the University of Illinois at Urbana-Champaign.

Ben Rowe

Ben Rowe is a co-founder and Managing Partner of KHP Capital Partners, with direct responsibility for asset management, finance, capital raising and investor relations. Previously, Ben served as Executive Vice President, Chief Financial Officer of Kimpton Hotels & Restaurants from 2008 to January 2015. In this role, he oversaw asset management as well as the finance and accounting function for both Kimpton and the real estate investments of the KHP Funds. Ben’s responsibilities included securing debt and equity capital, owned asset management, financial reporting, risk management, tax and treasury management, and information technology. Ben originally joined Kimpton in 2003 and served in a series of increasingly senior roles, including as Senior Vice President, Treasurer prior to being promoted to CFO.

Prior to Kimpton, Ben served as the Chief Financial Officer of Leirum, a restaurant and entertainment group. Ben began his professional career as an investment banker at Salomon Smith Barney in New York City, focusing on capital raising and strategic advisory work for the lodging and gaming industries.

Ben holds a B.S. with Distinction from Cornell University’s School of Hotel Administration, where he majored in hospitality finance. He also holds an M.B.A. from the Stanford Graduate School of Business. Ben is a member of the ULI Hotel Development Council and serves on the Advisory Board of the Center for Real Estate & Finance at Cornell’s School of Hotel Administration. He also serves on the National Board of Directors of Spark, a nonprofit youth mentoring organization.

Charlie Kim

Charlie Kim is a Vice President on the Investments team at KHP Capital Partners. Prior to his involvement at KHP, Charlie served in various investment roles at GHIG, Cultivate Hospitality Group, Kimpton, and Kilroy Realty Corporation. Charlie holds a BS from Cornell University’s School of Hotel Administration with a minor in real estate and a concentration in hotel and restaurant development.

Claire Benninger

Claire serves as a Director of Finance and Asset Management. Claire first joined KHP Capital Partners in 2017 as a member of the Asset Management team. Her past experience also includes time with Hersha Hospitality Trust and LDV Hospitality. She holds a BS from Cornell University’s School of Hotel Administration with a minor in real estate.

Connie Chan

Connie serves as a Vice President of Finance for KHP Capital Partners. Previously, Connie served as Director of Finance for Kimpton Hotels & Restaurants. Prior to joining Kimpton, Connie held finance and investment positions with FelCor Lodging Trust (NYSE: FCH) and Highgate Holdings. She holds a BS from Cornell University’s School of Hotel Administration. She is also a CFA® charterholder.

Dane Patunoff

Dane serves as a Senior Vice President of Development & Construction at KHP Capital Partners. Previously, Dane served as Director of Development and Construction for Kimpton Hotels & Restaurants. Prior to his time at Kimpton, Dane worked with Jones Lang LaSalle as a Senior Project Manager. Dane holds an MSc in Construction Management from Colorado State University and a BS in Interdisciplinary Engineering & Management from Clarkson University. Dane is a LEED Accredited Professional and holds a specialty designation for the Building Design & Construction rating system.

Ellie Galiardo

Ellie serves as a Senior Analyst for both the Asset Management and Investments group. Previously she worked as the Senior Analyst for Asset Management at Pebblebrook Hotel Trust (NYSE:PEB). Ellie holds a BS from Cornell University’s School of Hotel Administration with a minor in Real Estate.

Eric Moulton

Eric Moulton serves as Senior Vice President of Asset Management. Previously, Eric served as Senior Vice President of Asset Management at Kimpton, joining in 2010 after nearly ten years with Marriott and Ritz-Carlton. Eric graduated from the University of Wisconsin, Madison and received a MMH from Cornell University’s School of Hotel Administration.

Hyun Lee

Hyun serves as a Senior Analyst in the Investments group. He first joined KHP as an Analyst on the Asset Management team in 2019. Hyun’s past experience includes time with Davidson Hotels & Resorts and Aju Group in South Korea. He holds a BS from Cornell University’s School of Hotel Administration with a minor in real estate.

Jared Nemet

Jared serves as an Analyst in the Investments group. Jared’s past experience includes time with Wells Fargo’s Hospitality Finance Group. He holds a BS from Cornell University’s School of Hotel Administration with a minor in real estate.

Jeff Stulmaker

Jeff Stulmaker is a Partner and Chief Investment Officer for KHP Capital Partners. In this role, he is directly responsible for sourcing, underwriting and negotiating acquisitions and joint-venture agreements for KHP Funds. Jeff has directly been involved with all investment activities for KHP Funds II through V. Prior to joining KHP at its inception in 2015, Jeff served as Director of Acquisitions & Development at Kimpton where he was responsible for acquisitions, joint-venture agreements as well as third-party management agreements in the Western U.S. Jeff holds a BS from Cornell University’s School of Hotel Administration with a concentration in hospitality finance and a minor in real estate.

Joe Long

Joe Long is a co-founder and Managing Partner of KHP Capital Partners, with direct responsibility for acquisitions and property development/redevelopment.

Previously, Joe served as Executive Vice President, Chief Investment Officer of Kimpton Hotels & Restaurants from 2003 to January 2015. In this role he had leadership responsibility for all acquisitions for the KHP Funds, management contracts, joint ventures, design and construction. During this period, Kimpton more than doubled in size in terms of numbers of properties, with its value increasing more than six-fold from $65 million to $430 million upon the Company’s sale to a subsidiary of InterContinental Hotels Group (“IHG”) in January 2015.

Prior to Kimpton, Joe was Senior Vice President, Acquisitions & Development for Starwood Hotels & Resorts Worldwide where he was responsible for all acquisitions and management contract development for North America for all brands. Prior to that, Joe worked with LaSalle Partners where he was part of the team that started the LaSalle Hotel Group which ultimately became the publicly traded REIT LaSalle Hotel Properties (NYSE: LHO). During the 1980’s and early 1990’s, Joe spent eight years with Metric Realty, a large institutional owner of hotels, holding roles with responsibility for asset management and acquisitions. He began his career with Laventhol & Horwath in Philadelphia.
Joe holds a B.S. from Cornell University’s School of Hotel Administration. He is an active member of the AHLA Hospitality Investment Roundtable and a frequent speaker at industry events.

Josefina Radcliffe

Josefina serves as a Vice President of Asset Management for KHP Capital Partners. Previously, she served as Director of Asset Management – Hospitality for McWhinney and held feasibility and investment positions with Hyatt Hotels Corporation and Sage Hospitality. Josefina holds a BS from Cornell University’s School of Hotel Administration with a minor in real estate.

Judy Miles

Judy Miles is Executive Vice President, General Counsel for KHP Capital Partners and the KHP Funds. She provides comprehensive legal support to each fund, with a focus on purchase and sale transactions, joint ventures, financings and management contract negotiations, as well as risk management matters. To the extent outside counsel is employed, Judy oversees and coordinates all outside legal work.

Previously, Judy served as Executive Vice President, General Counsel, and Secretary for Kimpton from January 2009 to January 2015. In that role, she was responsible for the overall legal function of the company and its sponsored funds, including operations, development, investment, intellectual property/brand identity and corporate administration.

Prior to her tenure at Kimpton, Judy spent 24 years in private practice — most recently with the Goodwin Procter law firm in 2008, and before that, with the Heller Ehrman law firm from 1991 to 2008, and the Pettit & Martin law firm from 1984 to 1991. During her time in private practice, Judy specialized in advising hotel operators, owners and lenders in a wide range of matters, including the development, management, acquisition and sale of hotels, resorts, fractional ownership and branded residential properties.  She is also well-versed in the realm of real estate finance, having substantial experience in the structuring and negotiation of creative debt and equity financing transactions, and the workout and restructuring of problematic investments.  Her past clients include Four Seasons Hotels and Resorts, Starwood Hotels & Resorts, Hyatt Hotels, and Kimpton.

Judy holds an A.B. in human biology from Stanford University as well as a J.D. from Harvard Law School. She is a member of the Board of Governors of the American College of Real Estate Lawyers.

Kelvin Wong

Kelvin serves as Director of Finance & Tax for KHP Capital Partners. Prior to joining KHP Capital Partners, Kelvin was a Senior Manager at PricewaterhouseCoopers and also worked at Ernst & Young. He earned a Bachelors in Accounting and Masters in Taxation from the University of Washington – Seattle. He is a licensed Certified Public Accountant (CPA).

Louis Petauton

Louis serves as an Analyst for the Asset Management group. His operational background includes time with the French pastry group Ladurée, as well as consultancy in Food & Beverage Concept Design in the Canton of Vaud. Louis holds a BS in International Hospitality Management from EHL Hospitality Business School.

Mario Munoz

Mario serves as a Project Manager in the Development & Construction group. Prior to joining KHP Capital Partners, Mario worked with Kimpton Hotels & Restaurants and Con-Quest Contractors. Mario holds a bachelors in Civil Engineering from California State University, Chico.

Matthias Kowalsky

Matthias serves as Senior Vice President of Finance & Administration for KHP Capital Partners. Previously, Matthias served as Vice President of Accounting for Kimpton Hotels & Restaurants. Matthias also worked with Ernst & Young in the United States, Germany and the Netherlands. He earned a BS from the University of San Francisco in Hospitality Management and Accounting. He also holds an MSc in Accountancy from the University of Amsterdam, Netherlands, and is a licensed Certified Public Accountant (CPA).

Michelle Fraser

Michelle serves as an Accounting Manager with KHP Capital Partners. Prior to joining KHP Capital Partners, Michelle worked in accounting roles with Kilroy Realty Corporation, Jaeger McHugh & Company, and AMB Property Corporation. Michelle holds a Bachelor of Science degree in Business Administration and Accounting from San Diego State University.

Mike Depatie

Mike Depatie is a co-founder and Partner of KHP Capital Partners. Previously, Mike served as President and Chief Executive Officer of Kimpton Hotels and Restaurants and was also a member of Kimpton’s Board of Directors from 2003 to January 2015. Under Mike’s leadership, Kimpton tripled its system revenues to become the world’s largest developer and operator of boutique hotels and was named to FORTUNE magazine’s list of 100 Best Companies to Work For six times, ranking 11th in 2015. Kimpton was also named by JD Power as the #1 hotel brand in Customer Satisfaction for North American Upper Upscale Hotels in both 2013 and 2014.

Prior to joining Kimpton as President of Real Estate, Mike served as Chief Financial Officer of NYSE-listed La Quinta and Sunterra Corporation. Mike also co-founded Summerfield Suites, which was sold to Patriot American Corporation and subsequently to Hyatt. Before joining the founding team of Summerfield Suites, he served as the Senior Vice President of Finance and Development with the Residence Inn Company until its sale to Marriott in 1987. Mike began his career with Trammell Crow Company.

Mike holds an undergraduate degree from Michigan State University and an M.B.A. from Harvard Business School. In addition to his role at KHP, Mike serves as the only independent non-family member of the Shorenstein Company family board. Shorenstein is one of the largest owners of commercial office buildings in the United States. He also serves on the board of Qwick, a venture backed start-up in the fast-growing food and beverage temporary worker space, and the advisory board of Autocamp, a luxury “glamping” company. Mike is also a Trustee for the Boys and Girls Club of San Francisco.

Mike Long

Mike serves as a Vice President on the Asset Management team for KHP Capital Partners. Previously, he worked as a Vice President for Geolo Capital and a Senior Analyst for Pebblebrook Hotel Trust (NYSE:PEB). Mike holds a BS from Cornell University’s School of Hotel Administration

Rich Cohen

Rich serves as Senior Project Manager of Development & Construction with KHP Capital Partners. Previously, Rich served as Senior Project Manager for NV5 (Nasdaq:NVEE), with his primary focus on managing large scale hospitality projects. Prior to his time with NV5, Rich held various positions in corporate finance, primarily focused in FP&A serving internal business units in the telecom and banking industries. Rich holds an MBA in Finance from the Rochester Institute of Technology and a BA in Communications from the University at Buffalo. He also completed an executive interdisciplinary program in Mergers & Acquisitions at the University of Chicago Booth School of Business.

Steve Reinstein

Steve serves as a Vice President on the Investments team for KHP Capital Partners. Previously, Steve worked as a Vice President of Investments and Asset Management for DiamondRock Hospitality (NYSE:DRH). Steve holds a BS from Cornell University’s School of Hotel Administration.

Susan Low

Susan serves as Director of Accounting for KHP Capital Partners. Prior to joining KHP Capital Partners, Susan spent over 20 years with Kimpton Hotels & Restaurants, most recently as the Director of Fund Accounting. Susan earned a BS in Business Administration from San Francisco State University, where she majored in Accounting.

Wandee Chivatakarn

Wandee is an Executive Assistant at KHP Capital Partners. Previously she worked at Kimpton Hotels & Restaurants supporting the Acquisitions & Development group. Wandee holds a Bachelors in International Studies form the University of California, Irvine.

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