Marshall Capital Partners is raising up to $500 mln for an opportunity fund targeting real estate assets across Russia. The fund will be managed by the newly-established Marshall Real Estate Management and will be overseen by Michael Golomb, who was recently appointed as managing partner.
Marshall Capital Partners is raising up to $500 mln for an opportunity fund targeting real estate assets across Russia. The fund will be managed by the newly-established Marshall Real Estate Management and will be overseen by Michael Golomb, who was recently appointed as managing partner.
The fund will seek to invest in distressed assets predominantly located in Moscow and the Moscow region. It will invest in existing properties as well as projects in the final stages of construction.
'A large number of high-quality real estate assets are for sale now with a considerable discount due to the market crunch, so the fund will have good opportunities,' said Konstantin Malofeev, MCP Managing Partner. The fund raising for MREF is expected to take the whole next year.
Marshall Capital Partners was established in 2005 by Konstantin Malofeev and his partners. In August MCP completed the first stage of fund raising for two direct investment private equity funds, MarCap I and MarCap II. During this stage, over $420 mln in commitments were made to the funds from main investors AXA Private Equity and Paul Capital Partners.
