Fund management means operating a pooled real estate investment fund that deploys capital across multiple deals rather than a single property, raising committed capital from investors and investing it according to a defined strategy (value-add multifamily, opportunistic development, debt, or a...
Log in to followI've closed nine deals as a syndicator over five years, all deal by deal, all with the same 30 or so investors. Two of them have started asking why they have to review a new offer…
Five offerings have come across in the last four months and four of them are credit. Two are first time debt funds from equity shops that have never originated a loan, one is a tr…
Reading my first LPA and the fee section says 2 percent annually on committed capital during the investment period, then it steps down to 2 percent of invested capital after. So f…
I've read the deal-by-deal syndication material and I follow it. Sponsor finds a building, raises money for that building, buys it, runs it, sells it, splits the profit. The fund…
Half the fund decks that reach me now are debt funds. Senior bridge, mezz, preferred equity, some mix. The pitch is consistent: current pay in the 9 to 12 range, first position, s…
Been comparing two emerging manager structures side by side and they solve the same problem in opposite directions. Structure one is a real blind pool. Investors sign an LPA, comm…