US private equity group Madison International Realty has announced the final closing of its latest fund, Madison International Real Estate Liquidity Fund V, having raised $825 mln (€601 mln) of equity from a number of global institutional investors.
US private equity group Madison International Realty has announced the final closing of its latest fund, Madison International Real Estate Liquidity Fund V, having raised $825 mln (€601 mln) of equity from a number of global institutional investors.
Madison V has already deployed around 40% of its capital commitments into closed investments including One California Plaza, an office tower in downtown Los Angeles and the Saks Fifth Avenue retail property in Union Square in San Francisco.
Non-US investments include Songbird Estates, which controls London’s Canary Wharf, the New Century House office building in Dublin, Ireland, and the Statoil Office Complex in Oslo, Norway.
Madison V involved a global capital raise. In addition to US public pension funds, corporate pensions, insurance companies, endowments, foundations and family offices, Madison investors include institutions in Europe, Middle Eastern sovereign wealth funds and institutional investors in Asia and Australia.
Commenting on the final closing, Madison founder and president Ronald Dickerman said: 'Madison V is our third consecutive fund to be oversubscribed and our success in this latest capital raising demonstrates our continued ability to source, underwrite and execute on investments which deliver an asymmetric risk/return in the prime real estate space.'
Madison International Realty specialises in acquiring partial ownership and joint venture interests in class A properties and portfolios in primary markets in the US, UK and Western Europe.
