Zoe Hughes
TPG is eyeing a strong recovery in the US single-family sector in the wake of its deal to acquire the US and Canadian arm of British homebuilder Taylor Wimpey.
Sean O'Shea and Kyung Paik have departed from the New York-based multi-manager
Looking to raise $750m from tens of thousands of retail investors, the publicly registered vehicle will invest primarily in open-ended, core and core-plus property fund managers. However, the model could be expanded to closed-ended, value-added and opportunistic GPs in the future.
The firm's $1.8bn Global Opportunity Fund VIII is roughly 65 percent invested, paving the way for its next fundraise. Fund IX is expected to target a similar amount to its predecessor fund of roughly $2.5bn.
Asieh Mansour has been appointed head of Americas research at the brokerage and real estate services firm, departing the property investment arm of Deutsche Bank after 13 years.
The C$151bn Canadian pension has combined its shopping centre group Ivanhoe Cambridge and office and residential firm SITQ into one company, Ivanhoe Cambridge Group.
The firm’s $10.9bn Blackstone Real Estate Partners VI fund is 82% invested, triggering the firm’s next mega fundraise, believed to be Fund VII. News of the fundraise comes on the back of Blackstone’s real estate portfolio increasing in value by 8.7% in the first quarter.
PERE has learned that the Abu Dhabi Investment Authority has invested a majority of the equity behind AMB’s $588 million joint venture in China.
The Des Moines, Iowa-based fund manager has hired Douglas Harper as managing director in charge of its US fundraising operations.
The New York-based firm has closed Savanna Real Estate Fund II after exceeding its original target.