Friends First will seek opportunities in the private equity real estate fund market over the next year. It has not yet decided how much capital it will commit, rather it plans to look at funds on a case-by case basis. Friends First will look at distressed real estate markets in the coming year and is also looking at vehicles or direct plays where property is being purchased from distressed owners. It is not looking to invest in a fund playing a role in assisting with liquidity and it is not looking to invest in real estate debt. It is, however, interested in real estate fund of funds. For its own investment purposes it will seek investments in core funds of funds. For clients it will allocate to value added funds of funds. It is interested in vehicles focusing on Ireland and the UK, other Western European countries and the US.
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