California + Bay Area + Finance | July 31, 2023

Farallon Capital Exceeds Target with $650M Fundraise

San Francisco-based Farallon Capital Management, L.L.C. reached the final closing of its fourth US-focused opportunistic real estate fund structure, Farallon Real Estate Partners IV (FREP IV). The fund raised more than $650 million of aggregate investor commitments, exceeding its original target of $500 million.

FREP IV will employ a value-driven/opportunistic strategy while targeting equity, preferred equity, and distressed debt investments in relevant assets within the core sub-sectors. It will be managed and operated by the 12 dedicated members of Farallon’s Real Estate team, led by Rocky Fried and Josh Dapice.

Dapice described the current U.S. real estate environment as one where “we believe we are in the early innings of a widespread correction that will lead to attractive acquisition opportunities, particularly as it relates to working with owners in need of flexible and creative capital solutions.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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