Govan D. White
Managing Partner and Co-Founder
Govan is a co-founder and principal of Covenant Capital Group. He is responsible for managing the corporate activities of the firm including finance, accounting, investor relations, transaction structuring and asset management. Govan is a member of the Investment Committee. Prior to forming Covenant Capital Group in 2001, Govan was a Managing Director with Solidus Company, from 2000 to 2001, where he formulated the investment strategy for the firm’s real estate activities in publicly traded REITs and direct investments in apartment communities. From 1995 to 2000, Govan was a Senior Vice President at AmSouth Bank and predecessor organizations where he was responsible for managing the mortgage portfolio, hedging interest rate risk, securitizing mortgages and selling mortgage servicing. He was a member of the bank’s Asset Liability Committee and Investment Committee. From 1989 to 1995, he was employed by Fannie Mae in Washington, D.C., where he was a Senior Business Analyst in the Single-family Division and worked on securitizations and corporate strategy initiatives. Prior to 1989, Govan worked in the securities industry as an investment advisor and trader. Govan has over 25 years of experience in the financial and real estate industries. Govan’s expertise includes all aspects of analysis, identification, evaluation and trading in real estate assets; he has managed the sale and securitization of assets worth over $3 billion in more than 150 transactions. He is a member of the National Multi Housing Council. Govan holds a Bachelor of Science in Finance from the University of Alabama (1984).
Frederic A. Scarola
Managing Partner and Co-Founder
Rick Scarola is a co-founder and principal of Covenant Capital Group. Rick is responsible for setting investment strategy for acquisitions and dispositions, and is a member of the Investment Committee. During the past 25 years, Rick has been involved in the acquisition and disposition of apartment properties for a number of companies where he was directly responsible for identifying, evaluating, negotiating and executing these transactions for apartment communities located in the Southeast and Midwest. From 1998 to 2001, Rick was an Executive Vice President with Brookside Properties, Inc., Nashville, Tennessee. From 1985 to 1998, Rick worked for Insignia Capital Advisors and predecessor organizations, where he played a major role in the disposition of over 15,000 multifamily units. These transactions involved 250 apartment communities with a value of over $2 billion. While at Insignia, Rick acquired apartment properties under exclusive advisory agreements for Mid-America Apartments Communities, Inc., New Plan Excel Trust and Graystone Properties. Rick also serves on the University of Florida Real Estate Advisory Board and is a member of the National Multi Housing Council. Rick holds a Bachelor of Science in Business Administration from the University of Florida (1982).