19 private equity real estate funds reached a final close in Q3 2010, receiving aggregate commitments of $8.7 billion. The largest of these was Fortress Credit Opportunities Fund II, which received $2.6 billion in commitments to invest in a range of distressed and undervalued credit investments, including, but not limited to, opportunistic corporate loans and securities, residential loans and securities, commercial mortgage loans and securities, and other consumer or commercial assets and asset-backed securities. TA Associates Realty raised $1.7 billion for TA Realty Associates IX. The fund primarily makes core-plus and value added investments focusing on office, industrial, multi-family and retail properties.
London-based Brockton Capital raised £496 for Brockton Capital II, which invests in distressed commercial property in the UK. Angelo, Gordon & Co raised the fourth and fifth largest funds to close in the quarter. The firm raised $625 million for AG Asia Realty Fund II, which targets sub-performing and troubled real estate assets in Asia, and $550 million for AG Net Lease Realty Fund II, a value added fund which targets single-tenant, net leased real estate.
Click for a full factsheet on private equity real estate fundraising in Q3 2010.