Capital Formation

Surging appetite and high barriers to entry explain why investors are embracing the data center sector, say Principal Asset Management’s Casey Miller and Paul Lewis.

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

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.

The Dallas-based manager has formed a JV with a global sovereign wealth fund to acquire around $750m in additional assets.

The Dallas-based manager is seeing more higher-risk, higher-return opportunities for its largest-ever US non-core real estate fund.

The New York-based manager hired a former Heitman executive almost a year after Matt Brody left the role.

The $12.4bn raised in Q1 2023 is the lowest first quarter total recorded.

The New York-based manager previously had invested as much as 18% of a fund’s capital with prior vehicles in the series.

The Stockholm-based manager aims to broaden its client base and evolve its product offerings with the hire of a former JLL managing director.