The Australian firm also plans to make new hires to bolster its third-party capital management and fundraising capabilities in opportunistic real estate.
The Boston-based manager has raised $1.65bn for its seventh opportunistic vehicle.
The Dallas-based manager, historically a shorter-term holder, is considering converting an existing closed-end fund to an open-ended structure as part of a plan to establish its first long-term hold strategy.
The quarter saw the close of four $1bn-plus mezzanine/debt funds, which accounted for a bulk of the capital raised during this period.
Real Estate Investment Partners takes Goldman Sachs back to the world of global private equity real estate fundraising. But the comeback fund looks different to the Whitehall Street series which the bank ran before the global financial crisis.
Goldman Sachs has echoed Morgan Stanley by returning to private equity real estate funds with a rebranded series carrying a considerably more conservative strategy.
With co-investment capital and debt, the Toronto-based manager has approximately $2bn of investment power with the vehicle.
The Frankfurt-headquartered global manager has promoted Brian Maute to lead a dedicated team targeting registered investment advisers and broker-dealers.
Europe under magnifying glas
The new open-ended fund marks the first time Florida-based Participant is targeting European investors with a capital raise.
paris
Investor backing for the Eric Sasson-led firm’s first private equity real estate fund exceeded its target of €250m.
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