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Joyce Shapiro has joined the New York-based real estate team from Brookfield Asset Management to lead its expansion into real asset fund of funds, targeting infrastructure, energy, water, agriculture and timber.
Earth Capital Partners has launched its Forestry Fund I targeting 12% IRRs through the acquisition of established plantations and agricultural land ripe for planting in Brazil and other Latin America countries.
The real estate placement group lost a raft of personnel last month but the group insists they will ‘surprise [the] skeptics out there’, warning ‘we are in this for the long-term’.
A raft of executives has departed Credit Suisse Real Estate Private Fund Group including directors Manjul Ramchandanii, Lee Purcell, Doug Kinney, Alok Gaur, Daniel Taylor and Ben Linder. Anthony Carpenito is now heading the group, which has been rolled into the bank’s private equity fundraising arm.
Jennifer Aleman Hutter and Elizabeth Weiner have formed a consulting firm, focused solely on the GP-side of the placement business.
Bill Thompson, Walter Stackler, Pamela Wright and Fredrik Elwing have all left to join the New York-based bank. Greenhill said its expansion into the real estate capital raising business was a ‘natural step’.
The London-based investment firm has acquired a six-storey office property in Milton Keynes for £15.8m from CBRE Investors, at the same time as buying a Welsh shopping centre for £24m.
The Canadian pension reported above-benchmark returns for its investments in infrastructure and private equity last year, with 10.9% and 13.9% respectively. Real estate returned just 1.3% in 2009.
Brookfield Asset Management has been named global firm of the year in the PERE Awards 2009. Normandy Real Estate Partners, Partners Group and MGPA have taken the titles in North America, Europe and Asia. Here we present a full list of the winners.
The Toronto-based firms plans to invest $2.63bn into the troubled REIT, as General Growth looks to split itself in two as part of a bankruptcy reorganisation plan. Brookfield raised $5.5bn for its real estate turnaround consortium.