Wealthy individuals are increasingly replacing institutional investors, scared off by memories of the real estate crash, as the source of capital for real estate funds, according to the Wall Street Journal. For example, about 40 percent of Starwood Capital’s latest $2 billion fund comes from individual investors, Carlyle Group sourced 10 percent of its recent $2.3 billion from rich people, Lone Star Capital relied upon individuals for about 20 percent of its $5.5 billion fund [more]
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