Subjects: FNC, RLE
Farallon Capital Management Closes Fourth Real Estate Fund with over $650 Million in Aggregate Investor Commitments
SAN FRANCISCO, July 31, 2023 /PRNewswire/ -- Farallon Capital Management, L.L.C. (with its affiliates and exclusive sub-advisers, "Farallon") announced the final closing of its fourth US-focused opportunistic real estate fund structure, Farallon Real Estate Partners IV ("FREP IV"), raising in total over US$650 million of aggregate investor commitments, exceeding its original target of US$500 million.
Farallon has an extensive 30-year track record investing in commercial real estate and has deployed approximately US$7.4 billion of capital in 263 investments over that period. FREP IV's investment strategy will continue the Farallon Real Estate team's approach to investing in inefficient segments of the U.S. real estate market with a focus on industrial, multi-family, retail and office sub-sectors. FREP IV will employ a value- driven/opportunistic strategy while targeting equity, preferred equity, and distressed debt investments in relevant assets within the core sub-sectors.
FREP IV will be managed and operated by the 12 dedicated members of Farallon's Real Estate team led by Rocky Fried and Josh Dapice. Additionally, FREP IV will be supported by Farallon's global team and institutional infrastructure of over 200 operational professionals.
Limited partners in the fund structure consist of both existing and new investors, including endowments, public and corporate pension plans, insurance companies, family offices, and investment advisory firms.
"We are deeply appreciative of the support from our limited partners and look forward to deploying this new capital into what we believe to be a very attractive market. Farallon's long history of completing transactions throughout market cycles and its established global relationships position us to benefit from the current scarcity of capital in the U.S real estate markets," said Rocky Fried, Partner at Farallon and Head of US Real Estate.
Josh Dapice, Partner at Farallon, described the US real estate environment as one where "we believe we are in the early innings of a widespread correction that will lead to attractive acquisition opportunities, particularly as it relates to working with owners in need of flexible and creative capital solutions."
About Farallon®:
Farallon Capital Management, L.L.C. is a global institutional investment management firm founded in 1986. Farallon manages approximately $39 billion in capital and commitments for institutions, including college endowments, charitable foundations, pension plans and sovereign wealth funds, and high net worth individuals and family offices. Farallon is headquartered in San Francisco and has offices in New York, London, Singapore, Hong Kong, Tokyo and São Paulo. Farallon seeks investments across asset classes and around the world through a process of bottom-up fundamental research and analysis emphasizing capital preservation. More information about Farallon is available at www.faralloncapital.com.
Media Contacts
ASC Advisors
Taylor Ingraham / Steve Bruce
[email protected] / [email protected]
203 992 1230
Related Links
http://www.faralloncapital.com
SOURCE Farallon Capital Management
These press releases may also interest you
|
News published on and distributed by:
