Having already corralled $4 billion of equity commitments for a global opportunity investing consortium, the Toronto-based firm has swollen its kitty by a further $1bn as two more investors sign up.
A European-listed fund managed by Denver-based ProLogis is altering its legal structure as a result of the credit crunch.
The veteran real estate investor has reportedly launched a $625m credit fund to target distressed real estate securities. The vehicle, Zell Credit Opportunity Fund, has raised $125m to date, according to regulatory filings.
Charter Hall, the Australian property fund manager established in 1991, is meeting investors’ concerns by giving them greater control over its freshly-launched Charter Hall Special Situations Office fund.
The Korean buyout firm has acquired a 30.7% stake in BC Card and is looking to acquire a controlling stake in the company by the end of the year.
HarbourVest Partners, the Boston-based mainstay of private equity, has witnessed some major ups and downs in almost three decades of involvement in the asset class. Brooks Zug (above), Martha Vorlicek (right) and John Toomey (above right) met with Christopher Witkowsky to explain the firm's philosophy, its views on terms and conditions, and its belief that a scaled-down industry means scaled-up returns
The two real estate fund managers are turning to the public markets to raise capital for their next debt vehicles. Brookfield Realty Capital Corp. and Marathon Real Estate Mortgage Trust are targeting $500m and $300m respectively.
The London-based property fund manager is reportedly targeting the British real estate market with its UK Value Fund. The firm has raised £90m to date.
The $123.8bn California pension plan took a 50% write-down in its value-added/opportunistic real estate investments in the year to 31 March 2009. The pension has completely written off its equity in some funds, while others are currently reporting IRRs of more than -100%.
Fundraising for Asia-focused funds may have stalled, but it has less to do with Asia than it has to with a slowdown in the pace of investments globally, writes Siddharth Poddar.