Goldman Sachs Group Inc.’s asset-management arm raised $3.5 billion for its latest fund dedicated to global real estate investments.
Known as West Street Real Estate Investment Partners, the vehicle raised capital from third-party investors alongside commitments from Goldman’s balance sheets and employees, according to a client document seen by Bloomberg. Its goal is to make core-plus or value-add bets with a specific focus on resilient sectors that have favorable long-term growth trends, as well as positive long-term supply-demand dynamics. The fund has deployed more than 50% of its capital so far, mostly on housing, logistics and office properties.
Global real estate funds gathered $29.5 billion in the first quarter, a sizable drop from the record $71.9 billion raised in the fourth quarter, according to data provider Preqin, which said it doesn’t expect the hiatus to continue through this year.
Read more: BNN Bloomberg
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.