North America

With 16 transactions closed in the first half of 2021, the industry is well ahead of last year and poised to surpass 2018’s record total.

The new business, backed by Silverpeak and Capstone Equities, will focus on real estate secondaries opportunities in direct assets and open-end funds.

The Washington, DC firm expects to hold an $8bn final close this fall for Carlyle Realty Partners IX, which would be 45% larger than its predecessor.

Unless multiple mega-funds close during the second half year, the answer points to yes, according to PERE’s H1 2021 Fundraising Report.

The multifamily-focused vehicle, which had a $300m target, originates bridge loans, mezzanine debt and preferred equity on high-quality US properties.

The first six months of the year represented the smallest H1 total since 2012, when $57.5bn was raised during the period.

The vehicle will follow the firm’s fourth European value-add fund, which closed on its €2.1bn hard-cap earlier this month.

The Chicago-based firm closed on three funds totaling $3.2bn in three months, benefiting in part from the ‘favorable element’ of the 2021 vintage.

Dig deeper into how investors are operating in the market with our new analysis of H1 activity.

Barrack’s arrest this week made headlines, but it is only a sad footnote in the demise of a once mighty private equity real estate firm.