NorthStar, Goldman Drop $925M On Real Estate PE Funds

Law360, New York (June 13, 2013, 2:34 PM EDT) -- Real estate debt lender NorthStar Realty Finance Corp. and the asset management division of Goldman Sachs Group Inc. will pay $925 million to acquire limited partner interests in up to 25 real estate private equity funds from a New Jersey pension fund, NorthStar disclosed Wednesday.

The acquisition will be made by affiliates of NorthStar, including its sponsored nontraded real estate investment trust, and funds managed by Goldman Sachs Asset Management. The seller of the LP interests is Common Pension Fund E, a New Jersey pension investment...
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