Founding partner Lacy Rice has 38 years of experience in real estate and corporate finance. Prior to co-founding FCP, Mr. Rice was a Principal at The Carlyle Group, where he and Mr. Korhonen helped raise and invest Carlyle’s first real estate private equity fund ($457 million). Mr. Rice also served on the fund’s Investment Committee. Prior to joining Carlyle, Mr. Rice was a member of the Investment Banking Group at Alex. Brown & Sons, where he was involved in $2.5 billion of real estate M&A and underwriting transactions. Mr. Rice also developed residential communities as a Principal at Haas & Hayne Corporation and structured and closed loans, private placements, and interest rate swaps as a Corporate Account Officer at Chemical Bank. Mr. Rice serves on the boards of United Bankshares, Inc. (NASDQ: UBSI) and The Boys and Girls Clubs of Greater Washington and is the Co-Chair of NMHC’s Workforce Housing Committee Legislative Sub-Committee. He has served as Board Chairperson of American Community Properties Trust (NYSE AMEX: APO) and as a member of the Shepherd University Board of Governors, the WV Economic Development Authority Board, the BB&T D.C. Advisory Board, and the Mercersburg Academy Alumni Council. Mr. Rice received a Masters of Business Administration degree from Harvard Business School and a Bachelor of Arts degree from Princeton University.