Ex Morgan Stanley team's GreenOak Real Estate raises fund for Japanese assets
GreenOak Real Estate, a private equity property firm founded by ex-Morgan Stanley real estate executives, is seeking $800 million for a new fund to buy property and loans in Japan, according to reports.
The firm was established by Sonny Kalsi and John Carrafiell, who served as former global head and co-head of the New York-based Morgan Stanley Real Estate unit respectively, and Fred Schmidt, who previously led Morgan Stanley’s property division in Japan. GreenOak will apparently kick off its investment process in early 2011.
A number of other firms, including Aetos Capital and Tokio Marine Property Investment Management both recently revealed fundraising plans with a real estate focus, and are looking at asset purchasing opportunities while land value in Japan is about half of 1991 levels in some cases. The firms are also looking at investment opportunities in distressed realty assets in Japan.
Further reading
More on Real estate
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.