Partners Group has invested $265m (€238m) in a portfolio of seven real estate assets in the US.
The portfolio, which includes retail, mixed-use and developments, was bought on behalf of clients.
The investment manager said it invested via a secondary transaction, restructuring an existing mature fund.
The 1m sqft portfolio was part of a 2006-vintage programme managed by Madison Marquette.
Fabian Neuenschwander, senior vice-president of private real estate secondaries, said the investment was a “great example of the opportunities that can be found in the US secondary market”, due to the number of maturing real estate programmes that require resolution.
“With quality assets located in major US metropolitan markets,” he said, “this portfolio still has significant value-creation potential and we look forward to unlocking the value of these properties in the coming years through proactive asset management.”
The portfolio includes assets in California and North Carolina and large-scale, mixed-use, waterfront-development projects in Washington DC and New Jersey.