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Investcorp, Sovereign Wealth Funds Partner on U.S. Industrial
Investcorp and a partnership of two leading sovereign wealth funds have formed a new venture to acquire industrial real estate assets in the U.S. The identities of the funds and their financial commitments to the venture weren’t disclosed.
“The increasing pace of e-commerce adoption, especially throughout the pandemic, has demonstrated growing demand for last-mile logistics,” said Herb Myers, co-head of real estate, North America. This venture positions us well to expand our national industrial footprint in an asset class that we believe will continue to have strong fundamentals.”
The alternative asset manager, with U.S. headquarters in New York, made the strategic decision in 2014-2015 to focus its real estate investing on residential and industrial properties.
Following the acquisition of 89 properties in October, Investcorp’s U.S. industrial holdings total $2.8 billion. The new venture will provide Investcorp with the ability to continue to increase its presence in U.S. industrial.
Pictured: Investcorp’s U.S. headquarters at 280 Park Ave. in Manhattan.
- ◦Sale/Acquisition
