Latest Madison fund closes with €1.06b equity commitments

New York-headquarted private equity firm Madison International Realty has announced the final closing of its seventh real estate liquidity fund with $1.2 bn (€1.06 bn) of equity commitments, including side cars, co-investment vehicles and general partner commitments.

Madison VII is invested or specified in diversified investments in the office, multi-family, industrial and retail sectors across Madison’s three geographies of the UK, Europe and the US.

'We are very pleased with the broad support we received in the market from both returning and new investors for Madison’s VII’s capital raise,' said Ronald M. Dickerman, Madison founder and president.

'We believe late cycle and risk off dynamics in the market positioned Madison VII in a favorable light, given the multitude of alternate offerings available, and reinforced our differentiated direct secondary investment strategy focused on acquisitions of ownership stakes in prime properties and portfolios in growth-oriented capital cities of the US, UK and Europe,' Dickerman added.

'The past weeks have seen periods of unprecedented volatility and overhang on economic activity due to coronavirus concerns. We have always believed our strategy is counter-cyclical in nature and creates opportunity in times of changing economic conditions. We are also implementing policies to protect our people and partners,' Dickerman said.

Madison VII investors include endowments, foundations, public and private pension funds, sovereign wealth funds, family offices, insurance companies and high net worth individuals in the US, Europe, Asia, the Middle East and Australia.

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