Nick Weber’s private equity real estate firm is close to tying up the first equity of the €3bn follow-up fund to its 2019 value-add-opportunistic debut, Henderson Park Real Estate Fund I.
The Australian firm previously invested its own balance sheet capital in the higher-risk, higher-return strategy for more than 10 years.
Large pools of capital have been raised for distressed strategies, but thanks to government support schemes, finding a home for it is proving a challenge.
The strategy makes up almost half of the private real estate capital raised in the region, the highest proportion recorded since 2016.
The ex-Tristan Capital executive believes the $5.5bn raised by the managers of PERE’s Proptech 20 ranking could eventually grow to 10 times that size.
The 2021 ranking reflects more muted fundraising activity during the covid pandemic.
Even the most dominant in the ranking are seeing a drop in aggregate growth.
Residential-focused capital raising had the strongest start to a year since 2016 as the covid recovery took hold.
The New York-based firm’s latest vehicle is effectively a non-traded REIT within a 1940 Act wrapper, but the wrapper is where the innovation lies.
The New York-based private equity firm’s KREST could democratize access to institutional real estate through a number of ‘investor-friendly’ features.