Slate Asset Management has completed the final close of its opportunistic Slate Canadian Real Estate Opportunity Fund II (SCREO II) with C$572 million ($446 million) of equity commitments, exceeding its initial target of C$450 million ($350 million).
SCREO II was backed by a well-diversified, global investor base consisting of equal part existing SCREO I investors and new investors to the Slate platform. The institutional mix included endowments, family offices, North American pension funds, a large German public pension fund and clients of Townsend.
SCREO II focuses on cyclical investment opportunities, portfolio acquisitions and asset repositioning and redevelopment in North America.
“The global response to the Covid-19 pandemic has accelerated the significant disparity between price and value in the real estate industry, creating fresh opportunities for Slate to acquire assets and portfolios at an attractive cost basis,” said Blair Welch, founding partner
