Name: Karen Dunstan
Job title: Co-founder and general counsel, Precede Capital Partners
What I do: At Precede, we partner with best-in-class developers, real estate sponsors, banks and institutional investors to provide bespoke debt financing solutions for large-scale real estate projects across the UK. As general counsel, I lead our in-house legal team and set the legal groundwork for our partnerships with investment managers.
Why I got into the property industry: I qualified as a lawyer into a general banking seat, but after a few years found myself gravitating towards real estate finance transactions, particularly development finance. The knowledge that I was in some way contributing towards the building of much needed homes and the regeneration of so many parts of the country was very compelling for me both personally and professionally.
My first big break: Landing a training contract with real estate focused law firm Hammonds Suddards Edge. During this time, I developed a great grounding in real estate and finance law, but more importantly the commercial challenges in the real estate industry.
The biggest challenge I’ve encountered to date: Founding a business during the pandemic was incredibly challenging. We encountered the typical hurdles that come with establishing a new business, as well as those presented by Covid and the unprecedented times we were operating in. Creating a strong working environment and collaborative culture was much more difficult remotely, but I’m very proud of what we have achieved. We’ve managed to build a great team that enjoys spending time together.
My greatest achievement/proudest moment to date: My daughter. She is 13 years old, and I couldn’t be prouder of the young lady she is today; she is articulate, funny, and great fun to be around. I’m also proud of what I’ve been able to achieve within the real estate industry despite the challenges that working women and mothers face.
My biggest bugbear about the industry/the one thing I would change about the industry: The lack of representation of minority groups. It is incredibly frustrating and really deprives the industry of the diversity of thought that it needs.
When I became interested in ESG: Having worked in an industry which has historically had a tunnel vision focus on profit margins, the increased emphasis on ESG over the last decade or so has been a breath of fresh air for me personally and aligns my personal values with my professional work. At Precede, we are focused on funding projects that reflect our ESG framework and assess each project accordingly.
Why I’m so passionate about DE&I: Women are a minority group within real estate, and during my career I’ve had to overcome several hurdles associated with a lack of representation. I want to ensure that the challenges I’ve faced, and learnings that have come from them, are not wasted. I’m passionate about driving change, both at Precede through our DEI strategy, but also beyond by mentoring young women in the industry.
What I do in my downtime: I am either training for a marathon or recovering from one! I recently completed the Chicago marathon with a personal best. My next challenge will be the London Marathon 2024, where I will be fund raising for the North London Hospice.
The job I’d be doing if I was not doing this: I would have loved to work in the fitness industry. I have a real passion for health and wellbeing generally.
My inspiration: Brene Brown, what a woman!
My advice for someone just starting out: Be brave. Your opinion matters and you should never be afraid to voice it! Don’t wait to be asked your views, it may never happen.
My motto/mantra: Don’t project too far ahead. Keep it in the day.
