AllianceBernstein Seals Up $680M PE Real Estate Fund

Law360, New York (April 18, 2012, 4:53 PM EDT) -- Asset management firm AllianceBernstein LP announced Wednesday that it has closed on its first private equity real estate fund at $680 million and plans to primarily use the capital to buoy borrowers looking to restructure and recapitalize distressed assets in the U.S. market.

With an additional $220 million in co-investment commitments lined up, AllianceBernstein U.S. Real Estate Partners LP potentially has a total of $900 million in equity at its disposal. Backing the new fund, which will also invest in real estate portfolios and joint venture...
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