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EQT sets $6bn target for its US next industrial fundIf met, the fundraising goal for the manager’s latest flagship vehicle would place it among the largest single-sector funds ever raised.
Blueprint: Stoneweg’s M&A push; Kennedy Wilson's privatization; Nuveen’s investor expansionStoneweg plans to scale its real estate AUM to €15 billion by 2030, eyeing the deployment of €1 billion across Europe’s living sector in 2026 alone. Kennedy Wilson is slated to be taken private in a $1.65 billion deal agreed by a consortium of executives at the firm and Fairfax Financial. Elsewhere, Nuveen is diversifying the investor base of its Nordic self-storage platform by inviting capital partners outside its parent company; and more in today’s digest, exclusively for our valued subscribers.
Blueprint: Ares’ new era, BGO’s data center fundraise, target allocations’ slide, and moreA change atop Ares Management’s global real estate business leads the headlines this week, followed by an exclusive on a US industrial fundraise by BGO with a data center angle. Meanwhile, Hodes Weill finds a dip in investors’ target real estate allocations, Prologis eyes capitalization strategies for its own data center expansion, AustralianSuper expands its UK push, and more in this week’s digest, exclusively for our valued subscribers.
LADWP commits $100m to real estateLos Angeles pension committed to an Invesco-managed fund.
Blueprint: Barings' Artemis acquisition, PAG's record haul, PGIM's return to office and morePrivate real estate's M&A takeover continues this week with Barings' acquisition of PERE 100 manager Artemis Real Estate. Meanwhile, PAG closes its largest-ever opportunistic fund, PGIM heralds its return to office buying, Pretium brings in a veteran capital raiser and more in this week's briefing, exclusively for our valued subscribers.
Blueprint: NPS commits to fewer funds, Blackstone’s $1bn multifamily sale, Hines’ latest leadership changeNPS reduces the number of its fund investments in real estate, the only alternative asset class where the South Korean pension fund undertook a downsizing; Blackstone sells an 11-apartment portfolio for nearly $1 billion, sparking a re-examination of pricing by some industry watchers; Hines elevates another Hines family member to the office of the CEO as part of an ongoing succession plan, following a senior leadership reshuffle in late July; and more in today's briefing, exclusively for our valued subscribers.
Blueprint: Ares eyeing GCP, Carlyle's looming fund close, L&G's re-orgLos Angeles-based Ares Management is said to be on the cusp of buying a stake in GLP Capital Partners’ ex-China fund business, which has $66 billion of AUM in Japan, Southeast Asia, Europe, the US and Brazil; BlackRock is diving deeper into the data center world by acquiring a stake in Germany's Mainova WebHouse GmbH; Carlyle is on track for what could be the biggest fundraise of 2024; Amsterdam-based Redevco has added another senior executive to its ranks; and more in today's briefing, exclusively for our valued subscribers.
Blueprint: Fed watchdog highlights banks' commercial real estate exposure, Lone Star collects a third of its $6bn fundraising target, real estate secondaries volume fallsThe Federal Reserve watchdog weighs in on commercial real estate bank exposures and lending reserves; Lone Star Funds makes headway amassing firepower for its latest fund ahead of a distressed vintage; Ares data shows real estate secondaries volumes have dropped; and more in today's briefing, exclusively for our valued subscribers.
Blueprint: PERE Global Awards 2023 launch, Blackstone's European fundraise, Goldman's write-downsPERE's eagerly anticipated annual awards launch today with our customary call for submissions across 67 categories, including Innovation Investor of the Year for the first time; Blackstone raises nearly half of its targeted equity for its latest European opportunity fund; Goldman Sachs writes down its balance sheet real estate assets by one-third since start of the year; and more in today's briefing, exclusively for our valued subscribers.
Blueprint: Lone Star boss considers distress investing today, real estate reacts to the US debt ceiling agreement, what ESR's Korea vehicle launch meansLone Star's Grayken sees opportunities while the market finds its footing; a US debt ceiling deal relieves pressure on real estate but does not remove its obstacles, for now; ESR prepares a South Korea vehicle to capitalize on refinancing problems in the country; and more in today's briefing, exclusively for our valued subscribers.