Managers

After hiring its first placement agent for a US fundraising, the New York-based developer and fund manager is said to have held a final close just shy of the target for its latest US real estate fund.

The turmoil at China’s largest private equity real estate fund is poised to come to an end with its management, its investors and its development partner about to agree a restructure and a spinout.

The Greenwich, Connecticut-based firm led by Barry Sternlicht has closed its latest distressed opportunity investment vehicle well above its initial target of $2 billion to $3 billion, making it the largest fund that Starwood has raised to date.

The Los Angeles-based fund manager has raised nearly half of its target for Latitude Management Real Estate Capital III.

The Rio de Janeiro-based private equity firm has secured an initial equity haul from Brazilian limited partners for its new vehicle and has begun marketing to international investors.

The real estate subsidiary of the global asset manager has raised €200 million for its European Hotel Fund II, which will have €400 million of buying power.

The real estate investment management arm of UK insurer Prudential is close to buying a £105 million portfolio which would seed a vehicle aimed at amassing private rented housing in the country.

The Philadelphia-based firm has raised $127.99 million for LEM Real Estate High-Yield Debt and Preferred Equity Fund III, which is targeting structured real estate finance investments in the US.

The real estate arm of Caisse de dépôt et placement du Québec has rearranged several executives as a means to strengthen its Canadian and international platforms.

The Philadelphia-based real estate firm’s latest opportunistic vehicle will have a significantly lower target size than its $2 billion predecessor.