Wednesday, 17 September 2014
Last updated 6 hours ago
Mar 14 2013 | 1:24pm ET
Two major private equity firms are set to launch their first dedicated real-estate funds.
Kohlberg Kravis Roberts and TPG Capital Management hope to raise a combined $1.5 billion or more for the funds. Both are gearing up for a fundraising push, with KKR committing a significant amount of firm capital to the new venture and TPG eyeing the second quarter to begin marketing the fund.
TPG’s real-estate fund looks to be the larger of the two, with a target of at least $1 billion—which would make it the second-largest property fund ever, The Wall Street Journal reports. And while TPG will not shy away from traditional real-estate fund strategies, such as buying up distressed properties, it will also seek to take a more private-equity approach to the space, buying whole property companies and large portfolios of buildings.
“We combine sound property capabilities with corporate-style investing, which TPG has significant expertise in,” Kelvin Davis, head of TPG’s real-estate group, told the Journal.
For its part, KKR plans to launch its fund with $500 million in initial capital. The firm has been investing in real estate for two years, but the new fund will be its first investing exclusively in the space.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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