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Part of the expected equity haul will include capital raised for the successor to the Milan-based firm’s second opportunity fund, which is the largest Italy-focused property vehicle to date.
Malaysia’s Employees Provident Fund and Townsend are among the investors in KaiLong’s second China real estate vehicle.
The firm exceeded the $600m target for its fifth value-add fund and raised additional capital for an investment vehicle linked to the main fund.
Following positive return performances in 2018, family office allocations to the strategy increased by 2.1 percentage points – more than any other asset class.
The Houston-based firm has moved to a more centralized structure and will have three regional chief investment officers.
In a marketplace dominated by elite fundraisers, the biggest pools of institutional capital are getting what they need while the mega-managers are getting what they want
The previous fund in the investment manager's Asia value-add series, along with its co-investment vehicles, corralled $1bn in 2017.
The pension fund, among others, is concerned about the additional risks managers in the strategy are taking in order to meet higher return targets.
Real estate secondaries transaction volumes fell 39.2% during the first half of 2019 but the dip is expected to be temporary, according to private equity secondary advisory firm Setter Capital.
Whether the Boston-headquartered manager should fret over losing Gillian Chee, the manager of its incoming Asia core fund, is debatable.
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