Hospitality

WNC, an investor in affordable housing, has closed two institutional low-income housing tax credit (LIHTC) funds with roughly $350 million in equity. WNC Institutional Tax Credit Fund 55, L.P. (Corp 55) raised $220 million, while WNC Institutional Tax Credit Fund 10 California Series 20 L.P. (CA 20) raised $130 million. WNC has raised over $17.2 ...

Alternative investments manager Alpaca launched a private equity real estate platform – Alpaca Real Estate (ARE) – to capitalize on current market dislocations and generate incremental alpha for its investors. ARE comes out of the gate with an undisclosed amount of dry powder provided by GCM Grosvenor on behalf of several investors. The platform is ...

RBC Wealth Management, a subsidiary of the Royal Bank of Canada, continues to poach advisory teams from rival UBS Group with the addition of a $1 billion team in Kansas. The group, called Total Wealth Management, includes managing director Patrick McCarthy; SVPs John Brown and Eric Taylor; VP Scott Jones; AVPs Penny McKinney and LaGina ...

Wells Fargo & Company sold approximately $2 billion of private equity investments in certain Norwest Equity Partners and Norwest Mezzanine Partners funds to a group of investors including AlpInvest Partners (a subsidiary of Carlyle), Atalaya Capital Management, Lexington Partners, and Pantheon, as part of its efforts to focus on its core operations. “With this transaction, ...