Fundraising

The PERE 100 has long been dominated by Blackstone and Brookfield. But their superior fundraising masks the relevance of others.

The latest PERE 200 ranking demonstrates the increasing geographical dispersion of mid-tier real estate managers in the US. By Aisha Kapoor

Whether risers or fallers, all the managers in this year’s PERE 100 and PERE 200 rankings are gearing up for the change in market cycles.

The firm has included private credit investments for the first time in its Gateway fund series due to the higher interest rate environment.

Velo Capital, the recently formed group’s credit arm, will target financing opportunities including ‘brown-to-green’ schemes.

The New York-based manager initially targeted $750m for its second fund, snagging capital from institutional and high-net-worth investors.

GCP also plans to launch a new digital infrastructure strategy targeting data centers for external investors later this year.

The London-based residential specialist previously raised a Germany-focused fund after the global financial crisis.

The New York-based firm has received backing from a sovereign wealth fund to establish a platform investing in middle market managers.

Co-CEOs Deborah Harmon and Alex Gilbert said more than half the capital for the fund came from new investors, including Asian and Middle Eastern sovereign wealth funds.