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Ropes & Gray Advises on the Carlyle Group’s $1.2 Billion Metropolitan Real Estate Secondaries Program II

Practices: Private Funds, Tax, Executive Compensation & Employee Benefits, Secondary Transactions, Sponsor Representation

Ropes & Gray advised global alternative asset manager The Carlyle Group on its latest real estate secondaries program, Metropolitan Real Estate’s Secondaries Program II. The program announced its final close on Jan. 8, raising $1.2 billion, exceeding its $750 million target.

The program invests in the real estate secondaries market globally, providing liquidity to investors in private equity funds and other partnership structures. Program II builds on Metropolitan Real Estate’s secondaries investment strategy dating back to 2002 and its first dedicated secondaries program, which launched in 2014.

The Ropes & Gray team was led by private investment funds partner Marc Biamonte and private investment funds associate Steven Zaorski.  The team also included tax partner Dan Kolb, private investment funds associate Jessica Lepper, tax counsel Seth Piken, tax associate Thomas Spera and benefits counsel Sabrina Glaser.

Ropes & Gray’s representation was noted in Law360Property Funds WorldGlobal Legal ChronicleReal Estate Finance & Investment, and the Boston Bar Association’s Law Firm News.

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