US private equity group Westbrook Partners is letting cash-strapped investors reduce forward commitments by 10%, according to an article in the Wall Street Journal. The paper reported that the group is making the offer to investors in its eighth fund, Westbrook Real Estate Fund 8, which closed in 2008 with commitments of $2.5 bn from pension funds and other institutions.
US private equity group Westbrook Partners is letting cash-strapped investors reduce forward commitments by 10%, according to an article in the Wall Street Journal. The paper reported that the group is making the offer to investors in its eighth fund, Westbrook Real Estate Fund 8, which closed in 2008 with commitments of $2.5 bn from pension funds and other institutions.
Westbrook is willing to offer a reduction in capital commitments of over 10% if some investors elect not to take the full reduction. The firm is also waiving custodial fees it normally charges investors on commitments before investments are made, the paper said.
