Fundraising

The New York-based alternative asset manager, formerly known as Och-Ziff Capital Management, beat the target for its latest property vehicle by nearly $1bn.
The Chicago-based manager’s latest real estate debt fund carries the same strategy as its predecessor, but the lower return targets are a function of the late cycle, PERE has learned from a source.
Private real estate fundraising ended 2019 on a sour note, with managers closing just $14.5 billion in the last three months of the year.
Chicago
The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.
As private real estate fund market consolidates, the New York manager continues to be the destination of choice for institutional capital
Boston Skyline with Financial District and Boston Harbor at Dusk
Bain Capital is the latest manager to target non-performing real estate loans, a strategy that has been attractive to institutional investors.
The Dallas-based firm rolled over uncalled capital from a predecessor vehicle to help close on $4.7bn for Lone Star Real Estate Fund VI.
The California-based firm secured commitments from a variety of global investors.
Private real estate debt funds need to prove their value to investors in a more crowded and competitive market.
Targeting a smaller vehicle goes against the trend of firms able to raise successively larger funds. There are benefits – and risks – in doing so.
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