Related Raises $825M For Distressed Real Estate

Law360, New York (January 23, 2012, 3:17 PM EST) -- New York developer Related Cos. LLP has closed a new $825 million distressed real estate fund aimed at acquiring loans that were obtained for new developments and renovations in New York and other major metro areas, the company announced Monday.

The fund, launched by the firm's Related Fund Management LLC subsidiary, was oversubscribed by $75 million thanks to strong investment interest from some of the world's biggest sovereign wealth funds, pension plans, endowments and other private investors, Related said.

The Related Real Estate Recovery Fund is...
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