Ropes & Gray Advises CBRE Global Investors on CBRE U.S. Development Partners 5
Ropes & Gray advised CBRE Global Investors on the formation of CBRE U.S. Development Partners 5, a development club fund with equity commitments of $616 million to the fund and its co-investment vehicles, exceeding its capital-raising target. The fund announced its final closing on July 22.
CBRE Global Investors is a global real asset investment management firm with $107.2 billion in assets under management* as of March 31, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide. Development 5 is a continuation and evolution of a fund series sponsored by CBRE Global Investors focused on development investing in the United States.
The Ropes & Gray team was led by real estate funds partner Matt Posthuma and included tax partner Kristen Chang Winckler, ERISA partner Bill Jewett, asset management associate Brad Stanley and tax associate Denise Sohn.