MAX HOSHINO
FOUNDER & MANAGING MEMBER
Max Hoshino is the Founder & President of Saratoga Realty Investors, a U.S. based commercial real estate investment firm he built with a simple conviction: disciplined, value-driven investing still wins in inefficient markets. Over the past 15+ years, he has led Saratoga from a small entrepreneurial venture to a platform managing approximately $400 million across multifamily and hospitality assets in nine U.S. states while maintaining the firm’s hallmark: hands-on operations, value-adding ideas/implementations, transparent reporting, and unwavering fiduciary discipline.
Before launching Saratoga, Max spent more than two decades in global finance. He served as a Vice President at Glenwood Capital, helping manage a $5 billion fund-of-funds platform, and earlier co-led Nikko Securities’ $2 billion Managed Fund Group, where he designed and executed institutional hedge fund strategies. His career began at Coopers & Lybrand (PwC) in Tokyo and Chicago, as Senior Manager overseeing finance and real-estate engagements and developing analytical models for identifying accounting irregularities.
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This breadth—public accounting, institutional asset management, cross-border deal structuring, and real-asset operations—shaped the multidisciplinary lens he brings to Saratoga. Max is known for navigating complex, multi-variable investment situations; blending quantitative rigor with practical operating insight; and structuring transactions that balance tax-efficient, regulatory, and investment objectives.
Max also founded the Hoshino Foundation, an IRC 501(c)3 charitable foundation, supporting causes including the Illinois Holocaust Museum’s Chiune Sugihara Exhibition and The Aspen Institute’s Energy & Environment Program.
A long-time “tri-city nomad,” Max divides his time between Chicago, Aspen, and Tokyo. Outside work, he is an avid skier, a student of piano and voice, a lover of food and wine, and a believer that good travel makes better people—and better investors.
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Education
Harvard University – MPA, Finance & Public Policy
Keio University – BA, Business & Economics
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Licenses & Certifications
CFA (Credential ID: 236996); Member of The CFA Institute, Chicago CFA Society
Ex CPA (Credential ID: 9429); Ex Member JICPA (Retired in 2024)
Illinois Real Estate Broker (Credential ID: IL475.156093)
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