Managers

The Land of Enchantment’s $15 billion endowment has made contributions to Clarion’s Lion Industrial Trust and Prudential’s PRISA as part of a strategy to move away from opportunistic investments and more toward income-producing ones.

Most of the legacy real estate fund businesses sponsored by financial institutions have disappeared from this year’s PERE 30 ranking, while strategic shifts and large older vintage funds do not bode well for the remaining bank-sponsored platforms.

The New York-based private equity real estate firm has raised 75 percent of its $2 billion target for its global value-added real estate fund, Westbrook Real Estate Fund IX. The capital thus far has come from more than 40 US institutions.

The $126 billion pension system has made a sizable commitment to BREP VII as part of its overall goal of committing $6 billion to alternative investments over the next three years..

The New York-based firm has raised RMB 1.2 billion for a mixed-use development in Suzhou in what it claims to be the first Renminbi denominated real estate fund raised by a foreign developer.

Thanks largely to its current fundraising effort, the New York private equity and real estate giant has increased the distance between itself and its closest competitors. Meanwhile, most of the remaining legacy firms have fallen out of the ranking, opening the door for several new players and returning firms.

The Toronto-based fund manager is closing its third fund targeting multifamily assets throughout Canada.

The Greenwich, Connecticut-based private equity real estate firm is understood to have called time on its fundraising effort for its Asia Realty Income Fund III vehicle short of its original $1 billion target. Including last month’s investment in an Australian funds management business the fund has been invested into six transactions so far.

The investment management subsidiary of the US insurance company has allocated capital to core real estate vehicles sponsored by Morgan Stanley, Clarion and Invesco as it pursues an income-focused real estate strategy.

The number of new closed-end real estate funds being launched is on track to reach its highest level in seven years at a time when the amount of investor capital going into such vehicles is dropping, according to research presented by The Townsend Group at the PERE Global Investor Forum 2012 in Los Angeles.