LOS ANGELES-A new joint venture that seeks to cultivate the next generation of real estate investment fund managers has been formed. The Canyon Catalyst Fund has teamed with Rubicon Point Partners, and they have already closed on their first property.
The new JV will focus on pursuing Northern California office, R&D and data center properties ranging from $60 million to $100 million. Former U.S. Dept. of the Treasury official Ani Vartanian-Boladian is the managing partner of Rubicon.
Rubicon Point Partners represents the first partnership for the Canyon Catalyst Fund, a joint venture between Canyon Capital Realty Advisors and the California Public Employees' Retirement System (CalPERS). The $200 million fund, which will facilitate $400 million of investment, is designed to identify early stage real estate managers with strong potential for success, access to unique investment opportunities, and cultivate the next generation of real estate investment managers. Canyon provides direct oversight of investment sourcing, selection and deal structuring, and oversees asset management through to final realization.
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