Swiss alternative asset manager Partners Group said it has raised EUR 275 mln for a new fund targeting distressed properties in emerging markets worldwide. The Global Real Estate 2008 vehicle, which is already 40%-invested, has completed its first acquisition with the purchase of eight properties in China at a 50% discount to the estimated market value.
Swiss alternative asset manager Partners Group said it has raised EUR 275 mln for a new fund targeting distressed properties in emerging markets worldwide. The Global Real Estate 2008 vehicle, which is already 40%-invested, has completed its first acquisition with the purchase of eight properties in China at a 50% discount to the estimated market value.
Claude Angeloz, partner and co-head of private real estate at Partners, said that the company 'currently sees a rapidly increasing number of interesting investment propositions in various markets around the world.'
'These include opportunities from distressed sellers arising from the market turmoil in developed markets, as well as growth opportunities in emerging markets, where the growth in GDP, low household debt and demographic trends will drive demand for real estate,' he added. The new fund was mostly invested by pension funds, insurance companies, family offices and foundations worldwide.
