Value-Add

The London-based logistics manager has already doubled the capital raised for its previous European value-add vehicle in 2020.

The pension’s December commitments included $400m to a co-investment vehicle with Blue Owl and $75m to a new manager relationship.

Just $131.1bn was raised last year for private real estate funds, marking a third consecutive year of decline.

The Oslo-based manager picked up a 45% stake in a joint venture with Australian outfit Goodman, which will maintain its 55% ownership.

Favorable pricing and undersupply will help to bolster performance in real estate’s most maligned sectors, says global head of research Josh Scoville.

Lower debt costs and a growing appetite for operationally intensive alternatives will drive merger activity.

The milestone comes four years after the New York-based infrastructure giant formally launched a dedicated platform in the asset class.

With a focus on transparency and liquidity, Fund VI will exclude Hong Kong and China, and will further limit exposure to the office sector.

Speakers at NYU Schack’s capital markets conference disagree on whether to hold or dispose of core assets.

As well as providing a significant boost to Partners’ direct real estate business, the merger of the two Swiss firms will add real estate credit to the manager’s offering.