Peter Benson
Blackstone's president and chief operating officer considers real estate debt to be ‘an area of growth' for the firm.
With liquidity set to tighten further as banks continue to retrench, alternatives lenders are seeing opportunities across the spectrum.
The industry veteran is joining the New York-based credit shop as it closes its first institutional private fund.
SVB and Signature, along with troubled bank First Republic, had been major sources of financing for many real estate managers.
Blackstone, Starwood and KKR have had to limit redemptions but Blackstone used its position in the market to get a $4bn commitment from UC Investments.
The New York-based manager’s president said 'rebuilding momentum takes time' but said the tone of conversations with clients has improved.
Senior executives at the New York- and Miami-based mega-managers respond to escalating scrutiny of their private REITs after both reached redemption limits.
The Dallas-based manager is pivoting some of its equity vehicles to also include debt investments amid rising investor demand.
Three partners at the New York-based law firm share their perspectives on what the timing and composition of troubled real estate deals will look like.
The real estate investment arm of Prudential attracted first-time limited partners to the fund partly on strong past performance.