North America

The New York- and London-based manager has reduced the fund’s target deal size as a reflection of where it sees distress emerging.

The transaction is the third in the New York-based firm’s minority stakes strategy investing in real estate managers.

Although the proposed transaction still has many unknowns, some impacts of the deal are apparent even at this early stage.

With a target of $8bn, Carlyle Realty Partners X is shaping up to be one of 2024’s largest fundraises.

Even during a fundraising slump, one of the world’s largest capital allocators just demonstrated institutions will make bets for the right firm and strategy.

While others said no to moving to Asia, the relocation was one of the major turning points for the executive’s 40-year real estate career.

The largest US pension fund eyes non-core funds for its next round of allocation to the asset class.

The California pension plan’s backing of the vehicle marks its first investment with the New York-based manager.

The pension plan has made significant headway toward its annual pacing target with a $300m investment in Carlyle Realty Partners X.

The CEO believes real estate private credit could become the biggest part of the Toronto-based manager’s global property business.