Weekly data sheet: New and established firms plan fund launches

A debut fund from a former Blackstone European real estate head is among six vehicles launching, or securing capital.

Chad Pike's Makarora, a New York based opportunistic fund manager set up last year by the former Blackstone executive, is seeking $1.5 bn for the Makarora Real Estate Special Situations Fund, which will have a 'sleeve' of capital for Europe.

Private Equity Real Estate reported that an investment presentation for Makarora's fund said it would target mid-teens net IRRs.

Established logistics specialist Palmira Capital announced a follow on core logistics fund while  Sofidy launched a higher yielding SCPI. And Nordic pension fund Pensam pledged €480 mln to a new debt venture, lending in Denmark.

Patrizia held a final close for its Sustainable Communities fund investing in affordable housing, while US firm Cabot Properties raised almost €1.5 bn for a global logistics fund, including Europe.

Among the assets newly for sale this week, four offices were put on the market, two in London, one in Bristol and one in Dublin where the vendor is looking for €300 mln.

There were two large portfolio deals closed, and once again both in the logistics and industrial sector, with Blackstone selling eight German and Dutch warehouses to Clarion for €270 mln and Ares paying approximately £200 mln to Royal London Asset Management for a UK package of industrial and logistics.

We also track seven new loans made in both the private and public market.

Click here to see all this week’s data.


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