Farallon Capital Management holds $650m final close for fourth real estate fund

Farallon Capital Management has held a final close for its fourth U.S.-focused opportunistic real estate fund structure, Farallon Real Estate Partners IV (FREP IV), raising in total more than $650 million of aggregate investor commitments, exceeding its original target of $500 million.

FREP IV's investment strategy will continue the Farallon Real Estate team's approach to investing in inefficient segments of the U.S. real estate market with a focus on industrial, multifamily, retail and office subsectors. FREP IV will employ a value-driven/opportunistic strategy while targeting equity, preferred equity and distressed debt investments in relevant assets within the core subsectors.

Limited partners in the fund structure consist of both existing and new investors, including endowments, public and corporate pension plans, insurance companies, family offices and investment advisory firms.