The emerging markets-focused firm has already invested 12% of the fund, which will limit its use of leverage to deals in South Africa and Southeast Asia.
The Wall Street firm has deferred the final close of its latest global property vehicle because investors have asked for more time. The firm remains confident, however, it is on track to raise its target of up to $10 billion.
After a promising start to its latest fundraising, tough market conditions have forced the Paris- and London-based firm to lengthen the fundraising period for its €250m renewables fund.
The vehicle, Mid-Atlantic Capital Fund, is the first real estate opportunity fund for the Frederick, Maryland-based real estate company.
Backed by Dubai International Capital and First Eastern Investment Group, the fund’s plans to close on $1bn by October have been dashed by investors’ lack of liquidity.
Latin American venture firm Ignia’s second round added $13.6m to the fund’s first close in early June. The firm expects to hold a final close on its debut fund, which is targeting up to $75m, in early 2009.
The Canada-based firm will use the fund to target mid-market debt investment opportunities.
The private equity firm will continue to invest in these regions, but has decided dedicated teams weren’t warranted given global financial turmoil coupled with the ‘difficult investment’ climate.
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Backed by a single investor, the fund will support the commercialisation efforts of Massachusetts-based medical technology companies.