AssetAvenue Banks $3M Funding to Crowdfund Real-Estate Debt

AssetAvenue, a Los Angeles-based online peer-to-peer lending platform to invest and borrow money in commercial real estate, has raised the amount of $3 million in funding.

Matrix Partners and NetEase led the round with additional investors from the technology, venture capital and real estate industries participating.

AssetAvenue will use its seed round funding to accelerate strategic partnerships with lenders, fuel the continued growth of its institutional and accredited investor base, and build upon its proprietary lending platform.

Founder and CEO of AssetAvenue, David Manshoory, shared, “We are thrilled to have such an incredible caliber of investors supporting AssetAvenue’s mission to revolutionize the real estate investment industry by removing the barriers that have traditionally prevented individuals from investing in commercial real estate opportunities.”

Source: Crowdfund Insider

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, AssetAvenue, Los Angeles, California, Online Peer-to-Peer, Commercial Real Estate, Matrix Partners, NetEase Capital, Real Estate Industry, Seed Funding, David Manshoory, Real Estate Investment, Commercial Real Estate.


IDFC Alternatives Eyes Rs 1,000 crore for Commercial Real Estate Fund

IDFC Alternatives, a wholly owned subsidiary of IDFC Limited, is planning to raise the amount of over Rs 1,000 crore for new commercial real-estate fund, two people told Economic Times.

The fund manager is currently in the process of completing valuation of its two key assets, a Pune IT Special Economic Zone and another IT park in Noida. The assets are estimated to be valued at more than 1,000 crore together and “IDFC Alternatives is planning to transfer part ownership of these two assets to the new commercial fund as part of the sponsor’s contribution,” said one of the people.

IDFC Alternatives didn’t respond to an email seeking comment.

Earlier this year, IDFC Alternatives, a private-equity arm of infrastructure finance company IDFC Ltd, raised Rs 750 crore for its first real-estate fund, IDFC Real Estate Yield Fund. That fund is targeting under-construction residential projects in Delhi, Mumbai, Chennai, Bangalore, Hyderabad and Pune.

Source: Economic Times

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, IDFC Alternatives, IDFC Limited, Commercial Real Estate Fund, Real Estate Fund, Commercial Real Estate, Pune IT Special Economic Zone, IT Park, Noida, IDFC Ltd, IDFC Real Estate Yield Fund, Delhi, Mumbai, Chennai, Bangalore, Hyderabad, Pune.


Asia-Pacific Region Sparks Interests in International Investors

During the second-quarter 2014, commercial real estate investment (excluding land sales) has reached $25.4 billion in investment in the Asia-Pacific region.

Asia-Pacific investors are becoming less risk-averse and more willing to move up the risk curve. Risk associated with property investment has fallen during the second quarter of this year, with the DTZ risk multiplier, a gauge of property market risk, now close to its record low before the global financial crisis.

At the same time, the second quarter has seen renewed foreign interest in the region, with a record level of overseas investment. Private equity funds and institutional investors have been particularly active. This has led to buoyant investment activity across most markets in the region, suggesting that the region is now in “risk-on” mode.

Commercial real estate investment (excluding land sales) in the Asia-Pacific region reached US$25.4 billion in the second quarter, up 9 per cent compared to the first quarter of the year. This took investment volume in the first half to US$48.8 billion, up 3 per cent year on year.

Source: South China Morning Post

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Real Estate, Commercial Real Estate, Asia-Pacific, Asia-Pacific Investment, Asia-Pacific Real Estate, DTZ.


Madison Realty Capital Closes Fund III at $145.4M

An institutionally backed commercial real estate investment firm Madison Realty Capital, is pleased to announce the final closed for its third fund, Madison Realty Capital Debt Fund III LP (“MRC Fund III”), at $145.4 million.

Launched in 2014, MRC Fund III is the firm’s third real estate debt investment fund. Adam Tantleff, Managing Principal of MRC, made the announcement.

The discretionary private equity fund raised a total of $145.4 million of capital commitments from a diverse group of investors, including public pension funds, corporate pension funds, university endowments, family offices and wealth managers.

“It’s gratifying to have the continued support of our investors,” Mr. Tantleff said. “All of the limited partners in the first closing of MRC Fund III have been investors in our previous debt funds, or invested as LPs in our equity acquisition and development deals. Our fully-integrated real estate platform has been successful in maintaining the volume and quality of middle-market investment opportunities, and the performance of MRC’s portfolio has helped MRC continue to build on its loyal investor network.”

Source: DigitalJournal

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Real Estate, Commercial Real Estate, Real Estate Investment, Real Estate Investment Firm, Madison Realty Capital, Madison Realty Capital Debt Fund III LP, MRC Fund III, Adam Tantleff, Public Pension Funds, Corporate Pension Funds, University Endowments, Family Offices, Wealth Managers.


Oregon Investment Council to Invest $1B in Two TPG’s Private Equity Funds

Two private equity funds managed by Texas Pacific Group has been elected by Oregon’s public pension fund Oregon Investment Council to receive nearly $1 billion in funding.

The Oregon Investment Council voted to commit $700 million to TPG’s Strategic Partnership Account and another $250 million to TPG’s TSSP Adjacent Opportunities Partners L.P. The commitment represents 7 percent of the pension fund’s $14.3 billion in private equity investments, which represent about 21 percent of the $68 billion pension fund.

TPG hopes to raise a total of $10 billion in the first fund, which targets its traditional sweet spot: corporate buyouts requiring an equity investment between $250 million and $600 million, according to staff at the Oregon Treasury’s investment division. The second is a $2 billion special situations fund that targets an eclectic mix of investments such as drug royalty streams, European bank loans and residential and commercial real estate loans.

Oregon’s pension fund was an early investor in TPG.

Source: OregonLive

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity Investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Oregon Private Equity, Oregon Pension Fund, Texas Pacific Group, TPG, Oregon Investment Council, TSSP Adjacent Opportunities Partners L.P., Buyout, Buyout Fund, Leveraged Buyout, Buyout Firm, Oregon Treasury, Europe, European Bank Loans, Commercial Real Estate, Commercial Real Estate Loans, Real Estate.


KKR Announces the Signing of Merger Agreement with KFN

Kohlberg Kravis Roberts & Co. L.P., a leading global investment firm founded by Henry Kravis and George Roberts, announced it plans to acquire KKR Financial Holdings LLC in an all-stock agreement that values the specialty finance company at $2.6 billion.

KFN is a specialty finance company with a portfolio of assets spanning a complementary range of strategies, principally leveraged credit through ownership of subordinated and mezzanine notes across a number of CLOs; special situations; and Private Markets strategies including natural resources, commercial real estate and private equity. KFN is externally managed by KKR.

Under the agreement, which has been approved by the boards of directors of both KKR and KFN, in KFN’s case based on the unanimous recommendation of a committee of independent directors of KFN, shareholders of KFN will receive 0.51 common units of KKR for each common share of KFN. Based on KKR’s closing price as of December 16, 2013, the exchange ratio equates to a value of $12.79 per common share of KFN, implying a 35% premium to KFN’s closing price on December 16, 2013, or $2.6 billion in total common equity value.

Source: MarketWatch

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Kohlberg Kravis Roberts & Co. L.P., KKR & Co. L.P., KKR, Henry Kravis, George Roberts, KKR Financial Holdings LLC, KFN, Natural Resources, Commercial Real Estate, Real Estate.


Private Equity Firms for $2 Billion Deployment in the Indian Real Estate Sector

A privately held commercial real estate services firm Cushman & Wakefield’s latest report on the private equity in real estate investment states that around $2 billion is offered with private equity groups for distribution in the Indian real estate sector.

The interest comes despite the fact that PE investment flow in the first half of 2013 dropped by around 46%.

The PE investments in real estate was recorded at $276 million (around 1,638 crore) in first half of 2013 as compared to $514 million (around Rs 3,050 crore) in the same period last year. The decline in the quantum of PERE investment was essentially due to less number deals (13 in H1 2013) as the average ticket size of deals remained same.

The consultancy firm attributed the drop to the volatility in the market, including slower growth of the Indian economy, political stalemates and depreciation of the rupee. While, there is a strong investment sentiment for PERE transactions in India, they display a reflection of the market sentiments, where funds are looking at only embarking on projects with strong fundamentals. Source

 

Tags: Private Equity, Private Equity fundraising, Real Estate, Real Estate firm, Indian Real Estate Sector, Private Equity Real Estate, PERE, Commercial Real Estate, Cushman & Wakefield, Sanjay Dutt, South Asia.


Private Equity bets on Commercial Assets

Recently private equity (PE) giants have been looking to commercial property, a trend highlighted by a recent $368 million PE investment in Vrindavan Tech Village, a large IT park near Bangalore. The investment was a partnership of Blackstone Real Estate Partners, Embassy Property Developments, GIC Special Investments, and HDFC Property Fund and demonstrates how a variety of private equity firms are betting on this attractive investment option.

One of the latest PE entrants in real estate has been Baring Private Equity Partners. After examining many opportunities, Baring’s maiden investment made in 2012 has been the $100 million it injected in RMZ Corp – a well known South India-based builder – for an estimated 28 per cent stake. RMZ already has close to five million sq ft of built and leased office space. The proceeds from Baring’s investment will be used by RMZ to add another six to seven million sq ft. Source

Likewise, last year Blackstone acquired a 50% ownership in a Bangalore portfolio which held three business parks. The parks involved in the $200 million deal have a total area of over 10 million sq ft. One private equity executive noted that as giant private equity firms begin allocating more of their funds toward these types of assets, exits will become “increasingly easy”.

 

Tags: Private Equity, Commercial Real Estate, Office Buildings, Blackstone, Investments, Bangalore, Business Parks, Private Equity Trends

 


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