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Neuberger Berman’s Almanac Puts $320M into ACRE Funds
A fund managed by Almanac Realty Investors, the private real estate investment arm of Neuberger Berman, has made a $320-million capital commitment to various funds managed by Asia Capital Real Estate (ACRE).
The investment will provide strategic growth capital to ACRE’s general partner and investment manager while anchoring investments in their upcoming series of real estate private equity and debt funds, focused on multifamily investments.
“We’re very pleased to have an asset management firm as prominent as Neuberger Berman invest in ACRE with a commitment of this magnitude and equally honored to partner with Almanac’s experienced and highly respected team to help grow our platform and broaden our relationships with institutional investors and allocators,” said ACRE founding partner Les Menkes.
ACRE aims to invest $2 billion-plus through its upcoming private equity funds, and has already deployed more than $300 million in loans, with the support of Almanac and other investors.
Pictured: Almanac Realty headquarters in Midtown Manhattan.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

