Harrison Connery
Commitments of $1bn to the asset management behemoth’s real estate strategies in Q2 trail its smaller peers.
Second quarter earnings calls at KKR, Ares and Carlyle in the last week start to substantiate claims of a market turnaround.
The €5.1bn acquisition of the insurer’s investment management business by the bank would also see the latter’s real estate business become significantly more diversified.
Commitments to the firm's latest opportunistic strategy are ‘materially higher’ than the figure revealed in its earnings statement, says CEO Harvey Schwartz.
The Los Angeles-based manager also expects to hold two real estate fund closes over the next two months.
Real estate equity in the US and Asia helped to drive the firm’s Q2 deployment in real assets to the highest level in over two years.
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The credit manager is looking to build out its portfolio in the space to complement its primary value-add strategy.
The firm’s president of North America believes NIMBYism will cause development to stall and rents to rise in the popular sector.
The New York-based housing specialist’s fund was backed mostly by US investors, including the Virginia Retirement System.