Prospect Ridge Advisors and AllianceBernstein form JV

Prospect Ridge Advisors, a real estate investment manager, has completed its previously announced joint venture with AllianceBernstein (AB), creating a new firm that is uniquely positioned to capitalize on a broad and diverse set of investment opportunities and strategic partnerships. This transaction will allow for continued collaboration with AB and enable Prospect Ridge to grow through direct alignment with investors across the spectrum of risk and return.

Prospect Ridge employs an acquisition strategy and an asset management approach across multiple asset classes and geographies. Since inception, the team has acquired 159 assets totaling $6.8 billion of gross cost across its two commingled equity funds (the AllianceBernstein U.S. Real Estate Partners funds). It will continue to manage the existing equity funds, and the experience of investors in those funds is not expected to be affected.

Prospect Ridge — led by commercial real estate investment veterans Brahm