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Strat Partners launches 6th RE secondaries fund

The fund launch comes months after Strategic Partners hired former Goldman Sachs vice-president Mark Burton to oversee its real estate investments.

Strategic Partners has launched its sixth real estate secondaries fund, according to documents filed with the US Securities and Exchange Commission on Tuesday.

The target of Strategic Partners Real Estate Fund VI is not known and Strategic Partners declined to comment.

Both Blackstone Advisory Partners and Credit Suisse Securities will receive sales compensation for the fundraise, according to the documents.

Fund VI will be the firm’s first real estate secondaries fund raised under The Blackstone Group, which acquired the firm from Credit Suisse in April 2013. Strategic Partners V Real Estate raised $200 million in 2011 and Fund IV raised $300 million in 2008, PEI’s Research and Analytics division disclosed.

Earlier this year, Strategic Partners hired Mark Burton as a principal to oversee its real estate investments. Burton joined the firm in mid-June, after working at commercial real estate credit manager H/2 Capital Partners. Previously he spent 11 years in the special situations group at Goldman Sachs, most recently serving as a vice-president focused on commercial real estate investing and lending.

Strategic Partners is led by co-heads and senior managing directors Verdun Perry and Stephan Can. The pair are accompanied by 30 other generalist team members, according to the firm’s website.