Capital Trust Wraps Up PE Fund
In a down market, third party investors help buoy a $540 million closing.
July 16, 2008
Capital Trust, the listed, New York private equity fund, concluded fundraising for CT Opportunity Partners I with $540 million, it announced Wednesday.
The fund will be managed by CT Investment Co., a subsidiary of Capital Trust.
Capital Trust invested $25 million and collected the remainder from third parties, according to its statement. The fund will target opportunities exposed by the ongoing financial market dislocation, according to Capital Trust’s statement.
The fund held its first closing in December 2007 and has a three year investment period.
"This fund represents another important step in the build-out of our investment management practice," said John Klopp, chief executive of Capital Trust. "Coupled with the high grade fund that we announced in June, we have raised over $1.2 billion of private equity capital in the last six months, positioning CT to take advantage of opportunities at all points in the real estate capital structure."
The fund, which has focused on commercial real estate finance since 1997, is chaired by industry magnate and owner of the Tribune Company, Sam Zell.
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