Cain appoints new CIO and chief risk officers

Global investment manager Cain has announced key leadership appointments as it aims to double its assets under management within the next five years. 

Arvi Luoma and Joe Stelzer

Arvi Luoma has been named CIO, and Joe Stelzer has been appointed chief risk officer (CRO). Both will serve on the firm's global investment committee.
As CIO, Arvi Luoma will collaborate with co-founder and CEO Jonathan Goldstein to shape Cain's global investment strategy, oversee capital allocation, and guide portfolio development. His responsibilities will span the entire investment lifecycle, from origination to execution, asset management, value creation, and capital preservation. 
Luoma brings over two decades of global real estate investment experience, having managed over $10 bn (€9.2 bn) in assets across various sectors and more than 20 countries. He joined Cain following its 2024 merger with Blackbrook Capital, a specialist real estate investment manager he co-founded.
Joe Stelzer, as CRO, will be responsible for governance, risk management, and capital discipline as Cain expands its balance sheet and third-party capital. Since joining Cain in 2024, Stelzer has overseen the firm's private equity portfolio companies and special projects. 
His prior experience includes serving as managing partner at Cavendish Corporate Finance for a decade and building Polaron, a diversified technology group.
These appointments are part of Cain's strategy to accelerate the growth of its global platform. The firm currently manages approximately $14 bn (€12.9 bn) in assets across four investment verticals: landmark developments, living and hospitality, sports and entertainment, and supply chain infrastructure. Several significant projects are slated for delivery in 2026, including the reopening of Delano Miami Beach, a large UK PBSA portfolio, and over 102,193 m2 of European logistics space. The ongoing development of One Beverly Hills in California will also continue in 2026.
Jonathan Goldstein, co-founder and CEO, said: “As the business evolves and our capital partnerships deepen, this was the right moment to strengthen investment committee leadership. Arvi has played a central role in shaping Cain’s evolution and brings strong strategic judgement, deep experience across both real estate and credit analysis, and a disciplined global investment approach, while Joe has the operational and risk management expertise needed to support Cain as it continues to grow.”
Arvi Luoma, CIO, commented: “I believe Cain is a genuinely differentiated and uniquely positioned principal investment firm, with an established leadership team and experienced investment and asset management professionals which will enable us to capture the significant opportunity ahead in line with our global investment ambitions. Over the past eighteen months, we have strengthened the foundations across the platform, and I am excited to step into this role and help drive our next phase of growth.”