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Laxman Pai, Opalesque Asia: The global alternative asset manager Canyon Partners said that its real estate direct investing arm Canyon Partners Real Estate has raised over $650m for its latest US real estate debt vehicle.
The Los Angeles-based manager said the amount raised for the Canyon Laurel Fund II (CLF II) fund and related co-investments exceeds the $530m raised by the predecessor fund including related co-investments.
CLF II's investor base spans the US, Japan, Korea, and Australia, as well as a wide array of institutional profiles, including public and corporate pensions, endowments, financial institutions, and family offices, said a press release from the firm.
The Fund targets senior and subordinated debt investments in the top US markets spanning all major property types. Canyon has already deployed over 60% of the Fund's capital across a combination of primary originations and secondary market purchases.
Canyon's direct real estate investment arm, which manages a real estate portfolio today of over $6 billion of project capitalization, has doubled in size in the last few years under the leadership of Robin Potts and Maria Stamolis, who have been with the firm for 15 years and 14 years, respectively, said the release.
"In addition to the expansion of its debt platform, Canyon has been active in the equity space, announcing in 2020 a $375M investment from CalPERS for its Emerging Manager program (which Canyon has managed since 2012), hi...................... To view our full article Click here
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