Newsletter

Blueprint: Goldman’s record fundraise, the Maple 8’s uncertain future, KKR’s multifamily assault

It is a new era for Canada’s Maple 8 investors as they face tumult and a decline in overseas investments; Goldman Sachs has reached a record for a fund dedicated to real estate secondaries; KKR has snapped up a massive multifamily portfolio, marking the largest real estate purchase by a private equity manager so far this year; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Private REIT redemptions surge, GIC’s China play, Gaw’s Australian residential venture

Redemption requests spike following Starwood’s decision to limit withdrawals from its own private REIT, though firms are satisfying the cash-outs for now; GIC is ramping up on Chinese residential with a housing joint venture; Gaw Capital is also ratcheting up its residential holdings, but in the fragmented Australian market; and Meadow Partners and Faropoint look to fly under the institutional radar while on the hunt for deals; in today’s briefing, exclusively for our valued subscribers.

Blueprint: Ares eyeing GCP, Carlyle’s looming fund close, L&G’s re-org

Los Angeles-based Ares Management is said to be on the cusp of buying a stake in GLP Capital Partners’ ex-China fund business, which has $66 billion of AUM in Japan, Southeast Asia, Europe, the US and Brazil; BlackRock is diving deeper into the data center world by acquiring a stake in Germany’s Mainova WebHouse GmbH; Carlyle is on track for what could be the biggest fundraise of 2024; Amsterdam-based Redevco has added another senior executive to its ranks; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: The ECB’s rate cut, BGO’s data center investment, Blackstone’s residential push

Private real estate executives expect the impact of the European Central Bank’s rate cut last week to be felt in different ways across the continent; BGO returns for a third investment in the Nordic data center developer Bulk Infrastructure after realizing its original ambitions needed to be bigger; the private real estate industry mulls the impact of the upcoming UK election; mega-manager Blackstone signals it is doubling down on the UK housing sector with a blockbuster single-family rental deal; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: PERE 100 and 200 manager rankings, Town Lane’s $1.25bn raise, NPS’s dedicated real estate platform investment plans

PERE’s definitive manager ranking for 2024 is here, with a different set of firms impacting the top level; Tyler Henritze’s Town Lane closed its first fund at $1.25 billion, with the former Blackstone real estate veteran doing it all in just nine months; National Pension Service of Korea is getting into platform level investing with a dedicated strategy; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Starwood’s redemption limits, CPP’s real estate exposure shift, Stoneweg’s Cromwell acquisition

Starwood Capital takes limiting redemption requests at its Starwood Real Estate Income Trust to the next level; Swiss manager Stoneweg puts itself on the map via the acquisition of Cromwell Property Group’s European business; how the Canada Pension Plan’s exposure to real estate keeps reducing; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Goldman’s $3.6bn close, Tishman Speyer’s data center buy, prices slide in Asia

Goldman Sachs Alternatives’ final close for West Street Real Estate Credit Partners IV brings it a $7 billion lending capacity; Real estate prices in developed markets in Asia are down 10 percent from their peak in 2022, creating a entry point for investors; Tishman Speyer makes its first industrial acquisition in Europe which doubles as the firm’s first data center project; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Brookfield’s $8bn close for BSREP V, Starwood’s takeover bid for ESR, PGIM’s $2bn data center fund

Brookfield Asset Management reaches over $8 billion in commitments for Brookfield Strategic Real Estate Partners V, bringing the vehicle over halfway to its final target; Starwood forms a consortium of investors, including TPG-spinout credit platform Sixth Street Partners and New York investment firm SSW Partners, to propose a buyout of the Asian industrial giant ESR Group; PGIM Real Estate is targeting $2 billion for a global data center fund; and more in today’s briefing, exclusively for our valued subscribers.

Blueprint: Stoneshield’s €750m Opportunity Fund III closing, a look inside today’s limited partner advisory committees, KKR’s focus on core real estate

PERE lifts the veil on the issues investors are discussing with their managers in this month’s cover story, “Inside the LPAC”; KKR is becoming more active in the core and core-plus space thanks to a lack of competition; Southern Europe-focused manager Stoneshield Capital closes its third opportunity fund ahead of target – in just five months; all in today’s briefing, exclusively for our valued subscribers.

Blueprint: Greystar’s $1.9bn Fund XI closing, KKR’s $1.6bn student housing outlay, Tishman Speyer’s continued investment in China

Greystar Equity Partners XI has closed at $1.9 billion, smaller in size than its predecessor by $100 million; Coima SGR’s latest investment in Italy’s office market is part of a bank’s strategy to downsize its real estate exposure; and Generali Real Estate’s promotion of its chief executive Alberto Agazzi to a new international position is part of growth plans in the UK, US and Asia-Pacific; and more in today’s briefing, exclusively for our valued subscribers.