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Alternative Market Briefing

Farallon Capital Management closes Farallon Real Estate Partners

Thursday, February 20, 2014

Bailey McCann, Opalesque New York:

California-based Farallon Capital Management, L.L.C. has closed Farallon Real Estate Partners, a U.S. real estate investment pool with commitments of $375m to additional investments. Opalesque reported yesterday on the political aspirations of former Farallon principal Tom Steyer.

FREP is targeting income-producing office, multifamily, retail, and industrial properties and will seek to take advantage of Farallon’s unique insights, proprietary deal flow, capital market relationships and global reach. Investors in FREP include endowments, foundations, family offices and corporate pension plans.

Farallon ’s U.S. Real Estate Team is co-headed by Fried and Hirsch who are supported by a team of 8 investment professionals. Both Fried and Hirsch have spent over 10 years at Farallon.

The firm says it sees current opportunities in commercial real estate in the US. Initial investments will focus on cities with high levels of current job growth.

"Farallon has been investing in real estate for over 20 years" said Andrew Spokes, Farallon’s Managing Partner. "Over that period we have allocated well over $3.2 billion of capital to more than 130 transactions in income-producing properties. Raising dedicated commitments allows us to pursue an investment program tailored to this strategy, fulfilling a targeted investor ......................

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