Global private equity firm The Carlyle Group has expanded its real estate operations in Iberia through a joint venture partnership with Crimson Investment Management. The partnership will advise, execute investments and carry out asset management services in Portugal on behalf of Carlyle.
Global private equity firm The Carlyle Group has expanded its real estate operations in Iberia through a joint venture partnership with Crimson Investment Management. The partnership will advise, execute investments and carry out asset management services in Portugal on behalf of Carlyle.
Crimson Investment Management will work on an exclusive basis for Carlyle's third European real estate fund CEREP III, which raised EUR 2.2 bn of equity in June 2008 and will report directly to Rachel Lupiani, Carlyle Group's real estate director for Spain and Portugal.
In Portugal, Carlyle will focus primarily on assets located in the Lisbon area across all commercial property sectors, with a particular focus on office, retail and hotels. While not limited to these areas, Carlyle believes the most attractive investment opportunities will arise in these sectors.
Carlyle said it will also consider opportunities to acquire portfolios of high-quality leased assets and local real estate companies.
