Kyle Campbell
Sidecars have become popular for investors looking to right-size their portfolio and for managers in need of capital. But there is little uniformity in how they are arranged.
Managers and investors alike are approaching sidecars more frequently, in different ways and for new reasons. This increase in popularity, though, has led to some uncertainty.
The North Carolina manager’s first institutional fund beat its targets, but its latest vehicles may not fare as well.
It is difficult to gauge a manager’s track record if its limited partners are inconsistent in how they measure returns.
The New Mexico sovereign wealth fund has invested $242m in the Los Angeles-based manager’s vehicles since 2014.
Launched last spring, the lower-risk vehicle is on track to hit its target of $2bn
Metropolitan Real Estate’s head of global secondaries headlines a flurry of personnel moves at the Washington, DC firm
Surpassing its $1bn target, Investment Fund VII will focus on ground-up development in major US markets.
Metropolitan Real Estate’s previous vehicle in the strategy raised $550m.
The Dallas-based firm has unloaded hundreds of properties accumulated in the years following the global financial crisis as European investors embrace riskier investments.
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