Kempen Capital Management’s (KCM) new private markets fund, which aims to reach €100 million by the end of the year, has raised 30% of its target at first close.
Kempen Private Markets Fund, a sub-fund of Kempen Alternative Markets Fund, will have a fund-of-fund structure but will co-invest in certain investments.
The newly launched open-ended fund plans to invest through fund managers in unlisted private equity, infrastructure, land and real estate. The co-investments will focus mainly on private equity and infrastructure deals.
IPE Real Estate – 02 May 2018
PGIM Real Estate is seeking to raise $2 billion (€1.63 billion) over the next three years for its new open-ended real estate debt fund, according to one of its investors.
The Stanislaus County Employees’ Retirement Association (StanCERA) is committing $54 million to the PGIM Real Estate US Debt fund, a board meeting report shows.
IPE Real Estate – 13 March 2018
Mayfair Capital Investment Management has launched a new UK Fund with co-investment from Swiss Life Group. The MC Thematic Growth Fund is a closed-ended structure with a 5-7-year life targeting a return of 8-10% per annum with the use of up to 35% leverage. The stabilised income yield is targeted to be 5% per annum once the fund is fully invested.
Brookfield Asset Management has launched an open-ended real estate debt fund and is looking to raise $1billion (€805 million), according to a prospective investor.
San Diego County Employees Retirement Association (SDCERA) approved a $100 million commitment to the vehicle in December, according to a board meeting report.
According to SDCERA, said Brookfield had already raised between $400 million and $500 million for the fund.
IPE Real Estate – 02 February 2018
Aberdeen Standard Investments has launched a global private markets fund with seed capital from a Standard Life pension fund.
The open-ended Global Private Markets Fund (GPMF) will invest in infrastructure, real estate, private credit and private equity and has been designed as “one-stop” solution for pension funds seeking private markets exposure.
The fund has £138 million (€156 million) of seed money from a Standard Life pension fund and is aimed at small and medium-sized defined-benefit pension schemes, defined-contribution pension schemes and private banks.
There’s broad agreement within the industry that we need to establish a more structured and common approach to pricing policies.
We spoke to Mike Hornsby, Partner Ernst & Young and asked him to summarise the steps that INREV are taking to arrive at generally accepted pricing principles.
In November INREV and AREF presented a consultation paper on Open End Fund Pricing, feedback is now being reviewed by the focus group and a final paper is expected to be launched at the end of Q1 2018.
There’s broad agreement within the industry that we need to establish a more structured and common approach to pricing policies. To accelerate the debate, INREV and AREF presented a consultation paper on Open End Fund Pricing in November 2017.
Since then feedback has been collated at events in Munich and London and by email. We remind members that you have until 31 January to provide feedback.
Feedback will be collated and summarised in a follow-up conclusion paper, which will be published early this year.