Cornerstone Caps $546M Fund For Tech, Energy Real Estate

Law360, New York (March 12, 2012, 2:22 PM ET) -- Cornerstone Real Estate Advisers LLC has closed its eighth private equity fund at $546 million to target properties serving the fast-growing technology, energy and health sectors, the firm announced Monday.

Commitments from at least 24 institutional investors — including $150 million from Korea's National Pension Service, industry monitor Preqin reported — helped the fund beat its original $400 million goal. The fund has already made five acquisitions, with two more pending, Cornerstone said.

Cornerstone now has more than $33 billion in assets across all five major...
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