Value-Add

Ares raises $1.7bn in real estate during record fundraising quarter

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

DOWNLOAD: H1 2024 fundraising remained in the doldrums

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

Legal & General appoints Toby Creamer as head of European transactions

He arrives in the newly created role from a nine-year stint at CBRE Investment Management.

ACORE adds Matt Drummond to head high-yield strategy 

The credit manager is looking to build out its portfolio in the space to complement its primary value-add strategy.

Moorfield raises £330m for ‘hub and spoke’ fund model

The UK manager has closed its fifth value-add diversified fund and is seeking further capital for sector-specific side vehicles.

JRK Property fund buys La Jolla resort for $165m

The purchase marks the fourth hotel deal for the manager’s first value-add hospitality fund.

Slättö targets €500m for third Nordic value-add fund

In its first investment for the fund, the manager has acquired a 40% stake in a Swedish student accommodation portfolio.

Lazard: Liquidity is returning, albeit selectively

A recovery in activity levels is forming as institutional appetite turns positive during the first half of 2024, says James Jacobs, head of real assets for Lazard’s private capital advisory group.

Bigger is not always better for dealmaking 

Two fund closings this week demonstrate how targeting below-average deal sizes can give managers an edge.

Faropoint looks to fly ‘under the institutional radar’ with third fund

The firm is looking to deploy most of the $915m raised for the vehicle into deals averaging $10m in size.