{"id":1004093934,"date":"2014-04-03T07:14:36","date_gmt":"2014-04-03T15:14:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004093934"},"modified":"2022-12-04T02:14:41","modified_gmt":"2022-12-04T10:14:41","slug":"madison-internationals-fund-v-closes-oversubscribed-at-825m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/madison-internationals-fund-v-closes-oversubscribed-at-825m\/","title":{"rendered":"Madison International\u2019s Fund V Closes Oversubscribed at $825M"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

Madison International Realty got more than it had originally anticipated for Madison International Real Estate Liquidity Fund V L.P.\u00a0 The investment vehicle, which centers on a Class A, direct secondary investment strategy in the U.S., U.K. and Western Europe, recently closed with $825 million of equity commitments, marking a notable sum above its $750 million target.<\/p>\n

Madison representatives believe that it is the company\u2019s unique investment strategy that has consistently attracted a growing group of participants.<\/p>\n

\u201cI think, frankly, any investment firm has an obligation to keep their investment strategy fresh and differentiated, and I think we\u2019ve done that in a very significant way,\u201d Ronald Dickerman, founder & president of Madison, told Commercial Property Executive<\/i>.<\/p>\n

The company focuses on acquiring stakes in premier properties and providing joint venture equity to existing sponsors who, instead of parting with their assets completely, endeavor to sell only a percentage of it.<\/p>\n

\u201cThat strategy has served us well,\u201d Dickerman added. \u201cEverybody around the world wants to own interest in prime buildings but don\u2019t want to necessarily bid against everybody else and pay the highest price.\u201d<\/p>\n

The roster of investor types in Fund V is long and diverse. U.S. public pension funds contributed, as did corporate pensions, insurance companies, endowments, foundations and family offices. And they came from all corners of the world. Participating institutional investors include European institutions, Middle Eastern sovereign wealth funds, as well as institutional investors in Asia and Australia. The global attention Fund V commanded was no accident.<\/p>\n

Madison\u2019s funds didn\u2019t always reel in the international crowd. There were no foreign investors in Fund III, which closed in 2007 with $300 million. However, the tide turned when the fourth fund closed with $520 million and foreign-investor participation totaled 35 percent.<\/p>\n

\u201cAt that point we purposely tried to create a broader footprint as it relates to our investor base; we thought broader diversification would be a good thing and create more stability for our firm,\u201d Dickerman said. \u201cThe fifth fund was kind of a direct reflection of the continued globalization, and about 50 percent of those investors came from overseas.\u201d<\/p>\n

With 40 percent of its capital commitments having been deployed at this point, Fund V has already amassed quite a portfolio. Its investments include a 49 percent interest in the 1 million-square-foot One California Plaza in downtown Los Angeles; a stake in Songbird Estates Plc, which controls London\u2019s Canary Wharf; and a 35 percent interest in the Statoil Office Complex in Oslo, Norway. And the list goes on.<\/p>\n

With the ongoing success of Fund V, it\u2019s likely that many investors\u2019 thoughts are turning to Fund VI. Madison typically launches the funds at two-year intervals, so it\u2019s possible that the next one will be introduced at the very beginning of 2015. But Madison is in no hurry.<\/p>\n

\u201cFrom our perspective, we hope investors will consider that fund at that time, but right now our focus is really the continued investing of Fund V,\u201d Dickerman concluded.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Madison International Realty got more than it had originally anticipated for Madison International Real Estate Liquidity Fund V L.P. It closed with $825 million of equity commitments, marking a notable sum above its $750 million target. <\/p>\n","protected":false},"author":969,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004093934","post","type-post","status-publish","format-standard","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"\nMadison International\u2019s Fund V Closes Oversubscribed at $825M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/madison-internationals-fund-v-closes-oversubscribed-at-825m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Madison International\u2019s Fund V Closes Oversubscribed at $825M\" \/>\n<meta property=\"og:description\" content=\"Madison International Realty got more than it had originally anticipated for Madison International Real Estate Liquidity Fund V L.P. 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