real estate

Several firms have added secondaries capabilities, either by building in-house groups or acquiring outside firms, like Ares Management, which bought Landmark Partners earlier this year.

The firm has used the secondaries market to institutionalise its investor base and is increasingly appearing as a buyer in real estate deals.

The process involving Elion Partners is at least the third sizeable deal executed by Brookfield since entering the real estate secondaries market last year.

The alternatives giant's vehicle would be the second-largest pot of capital dedicated to the strategy so far.

The US public pension is also under-allocated to secondaries versus its target, due to the denominator effect.

Community organisers cited the secondaries firm's 2019 investment in Pretium Partners, whose portfolio company HavenBrook is facing scrutiny.

A successful fundraising by the secondaries business would help to prove investors are not concerned about a conflict of interest.

Landmark Real Estate Partners IX would overtake its 2018-vintage predecessor as the largest secondaries fund raised in the asset class.

The business, backed by Silverpeak and Capstone Equities, will focus on real estate secondaries opportunities in direct assets and open-end funds.

Ares' close of the Landmark Partners acquisition this quarter, along with strong fundraising, helped boost the firm's AUM to nearly a quarter trillion dollars.