Charlotte D'Souza
In a tough fundraising market, the largest managers are increasingly utilizing co-investment vehicles and separate accounts to stay competitive.
Some managers and investors are shedding assets and business lines to stay competitive, contesting the deep-rooted hypothesis that with scale comes success.
Andrew Allen was appointed global chief investment officer at the London-based manager following Kiran Patel’s retirement last month.
The addition of Cromwell Europe will double Stoneweg’s AUM and expand its wheelhouse into multiple new markets, says founder Jaume Sabater.
The US firm is aiming to hold a final close this summer for the globally focused vehicle, which would be its largest closed-end fund yet.
Founder Keith Breslauer says most US investors were not interested in pursuing distress in Europe, perceiving a greater opportunity at home.
The Southern Europe-focused manager took just five months to reach a final close for the fund, well below the European average.
Average private real estate remuneration growth tapered close to zero in 2023, according to the annual compensation study by PERE and executive recruiter Sousou Partners.
The firm’s chief executive Manfredi Catella is also looking to partner with other Italian institutions on a range of real estate initiatives.
The South Carolina-based manager has raised $1.9bn for the latest iteration in its flagship multifamily fund series.