New York, NY
CBRE Investment Management Announces Final Close for Global Special Situations Fund
May 31, 2022
CBRE Investment Management announced that its CBRE Global Special Situations Fund (“GSSF”) completed its final close with equity commitments totaling $599 million for the Fund and co-investment vehicles combined, exceeding the $500 million Fund target.
“The Fund’s strategy is designed to take advantage of inefficiencies in capital markets and create unique opportunities for our investors through recapitalizations and GP-led secondaries. We are seeing a significant and growing opportunity within these execution structures that can enhance the opportunity set for investors while providing access to high-quality real estate and attractive risk-adjusted returns,” said Matt Tepper, Fund Manager for CBRE Investment Management.
The team has already deployed 70% of the Fund’s capital across five investments providing exposure to European last-mile logistics, U.S. light industrial, U.S. single-family rental and U.S. self-storage.
“The Fund allows us to expand our execution into the opportunistic return spectrum and take full advantage of our deep operating partner network. GP-led secondaries are becoming a more prominent execution path in private real estate markets globally, and we expect this theme to continue going forward. The Fund’s existing portfolio demonstrates the team’s ability to generate opportunistic returns whilst remaining within our preferred themes,” said Achal Gandhi, CIO of Indirect Real Estate Strategies.
The GSSF is a closed-end private real estate fund seeking to invest in situations where liquidity or capital constraints provide an opportunity to acquire high-quality real estate at an attractive basis. The primary execution focus has been through participations in recapitalizations and partial interests in high-quality assets.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $146.8 billion in assets under management* as of March 31, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.