Carlyle Buys Real Estate Fund Of Funds

Sep 25 2013 | 12:18pm ET

The Carlyle Group has struck a deal for a fund of real-estate funds, its first foray into the field.

The private-equity giant will acquire Metropolitan Real Estate Equity Management. Terms of the deal were not disclosed, but according to The Wall Street Journal the payout could reach $75 million for the $2.6 billion firm, if performance targets are met.

David Sherman, Metropolitan's chief investment officer, will become head of real-estate in Carlyle's fund of funds group, under Morgan Stanley veteran Jacques Chappuis. Metropolitan has about 40 employees spread across five offices in the U.S., Europe and Asia.

Carlyle is paying for the deal in cash.

The Metropolitan acquisition is part of Carlyle's effort to expand its fund of funds business. The firm is also considering the addition of a fund of hedge funds business, the Journal reports.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.