Evelyn Lee
The New York-based private equity and real estate giant has clinched an additional $4 billion in commitments since January and is expected to raise a total of $12 billion by year’s end.
Fresh from striking a compromise with investors in its latest global real estate opportunity fund, the private equity real estate business of Morgan Stanley reportedly is gearing up to launch a new US-focused vehicle.
The joint venture with Westfield represents the $152.8 billion pension fund’s largest global real estate investment to date.
The Los Angeles-based real estate fund manager’s entry into the South American nation is part of a larger strategy to expand into other Latin American markets over the next two years.
The New York-based real estate fund manager’s head of US opportunity funds has left after more than 18 years at the firm.
The New York-based alternative asset manager’s year-end loss in its real estate business included a $15.4 million fourth-quarter net loss and contributed to the firm’s overall $300 million net loss for the year.
The $14.3 billion pension plan has selected two managers for real estate fund of funds mandates.
A partnership between affiliates of Dune Real Estate Partners and DiNapoli Capital Partners has refinanced the San Francisco hotel, which it first acquired in 2007.
The New York-based private equity and real estate giant also said that Europe would be a major target for real estate opportunities in 2012.
The Washington, DC-based private equity firm has acquired an office and residential portfolio in central Stockholm on behalf of its third European real estate fund.
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