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Clear views on a cloudy day: four veterans of the US real estate market compare notes high above Manhattan. PERE magazine October 2009
The Leon Black-led firm has assembled a core group of real estate professionals from Barclays, Goldman Sachs and AREA Property Partners as it prepares to raise an opportunistic private equity real estate fund later this year.
The world’s sovereign wealth funds are expected to allocate up to 30 percent, or around $218 billion, of new investments in unlisted property funds over the next seven years, according to a report by CB Richard Ellis. It comes as Bahrain-based Investcorp launches a $1bn real estate debt vehicle with an unnamed Gulf sovereign wealth fund as an investor.
The Africa-focussed private equity firm has purchased Générale Assurance Méditerranéenne; ECP has also sold its minority stake in a Moroccan fertilizer distribution company for $23 million.
Los Angeles-based CB Richard Ellis Investors has invested out of its Strategic Partners Asia II vehicle to acquire a joint venture interest in the Guangdong Development Bank Tower in Shanghai.
Former CPI fund manager Stephen Coyle will lead the firm’s new fund of funds initiative.
The Maine Public Employees Retirement System is considering moving into alternatives including private equity, hedge funds and global real estate.
The pension fund, which owns direct and indirect property holdings, has teamed up with London real estate company Great Portland Estates to create a mixed use block.
London-based property investment manager Rockspring has closed its fourth vehicle to date with 13 institutional investors committing to the core-plus and value-add strategy.
The German firm has launched a fund of funds to invest in five pan-Asian vehicles, targeting a maximum final close of $465m.

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