From humble beginnings to managing a $1.9 billion real estate empire, Nick Dhanani has built Dhanani Private Equity Group (DPEG) into one of the most successful private equity firms in the country. What started as a way of livelihood has evolved into a company with a diverse portfolio of 45+ convenience stores, 50+ retail centers, and nearly 3,000 units of proposed Class A+ multifamily housing properties.
Unlike many private equity firms, DPEG’s foundation was not built on institutional money, but on trust, transparency, and smart investing. With over 3,400 investors and a track record of never having a single unprofitable deal, Nick Dhanani has redefined what it means to build generational wealth.
In this exclusive conversation, Nick shares his journey from a gas station cashier to CEO, the investment philosophy behind DPEG’s success, and what’s next for the company.
You often say that Dhanani Private Equity Group was formed accidentally—can you share the story behind its founding?
It’s true—DPEG wasn’t something I planned to build. It happened organically, almost by accident.
My journey started in the late 1980s, when my family immigrated from Nagpur, India to Houston, Texas. Like many immigrants, we arrived with very little. My first job was running the night shift as a gas station cashier. I saved every dollar I could, and eventually, I bought that same gas station. That was my first step toward something much bigger.
As I grew, I realized that owning real estate was far more beneficial than just operating businesses as a tenant. I started buying properties, and over time, my investments in prime locations across Houston started paying off. My sister was my first investor—she saw how well I was doing and wanted to be a part of it. I was hesitant at first because I had never taken outside money before. But she convinced me, and once people saw our success, word spread quickly. Friends, family, and people that were part of their networks wanted to invest with us.
Today, DPEG manages over $1.9 billion in assets and has completed over 250 projects, and we’ve never had a single unprofitable deal.
From working as a gas station cashier to leading a multi-billion-dollar company, what were the key lessons from your early days that still guide you today?
One of the biggest lessons I learned early on is that making money is easy—everyone has to do it to survive. But the real skill, the real challenge, is taking that money and turning it into lasting wealth. That’s what I’ve dedicated my life to.
My first job taught me the importance of discipline, hard work, and financial prudence. I learned how to manage cash flow, optimize operations, and understand what makes a business profitable. These lessons still guide me today.
One of the most important things I learned early on was the power of leverage. I was never afraid to borrow money to fuel my growth—as long as the underlying assets were worth it. From my gas station days to my real estate ventures now, I’ve always made sure to run my numbers very conservatively and project cash flows accurately before making any financial moves.
Another key lesson was understanding people—how to work with them, how to talk to them, and when to set aside my own way of thinking to allow others’ ideas to take shape. Business is all about relationships, and learning how to collaborate, build trust, and form strong partnerships has been invaluable. And no matter how much success I’ve found, staying grounded has always been at the core of everything I do.
What are the core values that define DPEG’s success and business philosophy?
At Dhanani Private Equity Group (DPEG), our success is built on three fundamental principles: full transparency, collective decision-making, and no promote fees.
Trust is everything in this business. That’s why we operate with full transparency—there are no hidden fees, no surprises, just clear and honest communication. We ensure that everyone involved understands the strategy, risks, and potential returns of every investment. Furthermore, we believe in the power of collaboration. Every deal we pursue and every major decision we make is carefully analyzed and discussed as a team, ensuring we make the best possible investment decisions. Finally, unlike many private equity groups, and real estate syndications, we don’t charge a promote fee. We structure our deals so that we win right alongside our investors, not at their expense.
These principles have been at the core of DPEG since day one, and they continue to guide every investment we make.
What differentiates DPEG from other real estate investment firms?
Most private equity firms start as financial institutions, we started as business operators. We learned real estate from the ground up—understanding every aspect of the assets we invest in, from tenant needs to cost optimization. This hands-on experience gives us an edge in making strategic, well-informed decisions that drive long-term value.
Another key differentiator is our personal approach to investing. While many firms rely on institutional money, DPEG has grown organically, fueled by a network of over 3,400 LP investors who have placed their trust in us over the years.
DPEG has invested in convenience stores, retail centers, land and Class A+ multifamily units— which sector do you see as the most promising in the coming years?
We see strong potential in retail, land, and multifamily. However, the greatest upside always lies in creating value from the ground up, not taking something existing and adding value to it. For these reasons developing Class A+ multifamily has truly become our bread-and-butter. Over time, our track record has proven that returns aren’t dictated by any single asset class, but by how well a project is executed. Success in real estate is heavily dependent upon how efficiently you execute, optimize, and create value.
To strengthen our approach, DPEG has expanded into multiple verticals in an effort to streamline operations and maximize returns. We recently launched a multifamily development division, which will allow us not only to build for our own portfolio but also to develop projects for other developers. Our EB-5 investment platform is the next major expansion for DPEG, stimulating the domestic economy while providing a path to legal status for qualified global citizens.
Beyond this, we’ve vertically integrated key services that are essential to acquiring, managing, and optimizing real estate assets. We have brought everything in house—from DPEG Insurance to DPEG Energy and Commonwealth Title, these services have enabled significant value engineering in our own projects among numerous other benefits.
What’s next for DPEG? Are there any new markets or strategies you’re exploring?
Right now, we’re expanding into land development.
We’re identifying high-potential tracts of land in the Greater Houston area, preparing them for future homebuilders to create single-family homes. The best part? We eliminate construction risk. We’re not physically building the homes, just putting the necessary horizontal infrastructure in place, such as detention and utilities, to create shovel-ready lots.
If you could give one piece of leadership advice to aspiring entrepreneurs, what would it be?
Never give up and always follow your dreams. Success doesn’t happen overnight, but if you stay committed, adapt to challenges, and keep pushing forward, you’ll get there. Resilience and perseverance are the keys to achieving anything in business and in life.
