Evelyn Lee
The New York-based private equity real estate firm now is raising capital for the third offering of its opportunistic fund, less than a year after closing on more than $1 billion of commitments during its second capital raise in 2011.
Michael Profenius, formerly a managing director at Warburg Pincus, has joined the New York-based private equity real estate firm as one of two senior partners, following the reorganisation of the firm last fall to focus its investment activity on the US.
The New York-based real estate, infrastructure and real resources investment platform of Franklin Templeton Investments has amassed a total of $319.2 million in commitments for its third global multi-manager fund, which was the first of its funds to target US institutions.
The state’s $15 billion permanent endowment has approved an increase in its real estate allocation target from 6 percent to 7 percent as part of a larger objective to double the target to 10 percent by year’s end
In its second such partnership this year, the New York-based real estate investor and fund manager is teaming with a South Florida developer to build apartment communities on behalf of its latest opportunity fund.
The core investment vehicle, called TechCore, will be managed by the Menlo Park, California-based private equity real estate firm and will invest in technology-focused properties in the US.
Dan Vene, a former partner at placement agent Eaton Partners, has joined the New York-based investment manager to lead capital-raising efforts and client relations for the firm’s real estate opportunity funds.
The Greenwich, Connecticut real estate investment firm, in a joint venture with Gaia Real Estate, has purchased a 32-property multifamily portfolio in the US. The deal forms part of its acquisition and recapitalisation of the properties’ bankrupt owner, PJ Finance Company.
The New York-based private equity real estate firm has held a final close for its US real estate vehicle, which initially had fundraising challenges but ultimately exceeded its $650 million target. The capital raise was bolstered in part by a sizable commitment from Texas Teachers.
Two firms led by former Blackstone Real Estate Advisors and Related Companies executives have formed AWH Partners, a new venture that is targeting investments in the hotel real estate sector, where transaction activity has been heating up.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: