Debt

The ‘big two’ remain private real estate’s biggest fundraisers, but evidence points to other firms getting more investor attention these days.

The Los Angeles-based manager also expects to hold two real estate fund closes over the next two months.

The prevalence of non-mainstream products, such as debt and data center funds, have yet to be reflected amid tumbling fundraising totals.

With only $59bn raised in the first half of the year, 2024 is on track to be the worst fundraising year since 2012.

The ‘significant’ capital injection allows Quintain to finalize the latest phase of the 85-acre estate.

Before launching a dedicated fund, the firm has deployed over A$5bn in Australia across real estate debt and equity since 2011.

Lee Levy, senior managing director and head of debt, most recently was Goldman Sachs’ co-head of US real estate credit investing.

Five executives at the California-based investment manager have assumed new roles as two other professionals have left the firm.

He believes investors will want to capitalize on strong risk-adjusted returns for credit investments before rates come down later this year.

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