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New York & Tri-State  + Midtown New York  + Finance  | 

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

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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 16-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 7-10 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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