Former Blackstone executive’s Town Lane raises $1.9bn for second real estate fund
Town Lane Management, the real estate investment firm founded by former Blackstone executive Tyler Henritze, has raised $1.9bn for its second fund, exceeding its fundraising target by more than 25%, according to a report by Bloomberg.
Town Lane Management, a real estate investment firm launched by former Blackstone executive Tyler Henritze, has successfully raised $1.9 billion for its second fund, surpassing its fundraising goal by over 25%, according to Bloomberg. The fund garnered commitments from various US institutional investors, such as endowments, foundations, family offices, and pension funds, following its May launch.
Town Lane intends to allocate between $50 million and $300 million per investment, focusing on sectors like senior housing, retail, and industrial properties. This fundraising effort follows a $1.25 billion first fund and comes amid ongoing instability in commercial real estate markets, as property valuations are currently about 25% below their previous peak due to higher borrowing costs and declining office demand, as reported by JPMorgan Chase.
Moreover, Town Lane has ventured into digital infrastructure by collaborating with PowerHouse Data Centers to construct a powered data center facility in North Carolina. Henritze had spent nearly two decades at Blackstone, most recently serving as head of strategic investments for real estate in the Americas. Alongside his sister Parker Morse, a former Sycamore Partners executive, Henritze co-founded Town Lane.
The firm has attracted investment professionals from TPG, Starwood Capital, Coatue Management, and Blackstone as it broadens its real estate investment platform.
Written by urgent.news from Private Equity Wire's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
