Finesa Real Estate Group and Transwestern Investment Management have marked their first closing for Diversified International Partners, a $200 million fund earmarked for commercial real estate investments in the top U.S. markets.
Finesa, general partner of the fund, and Transwestern have raised $70 million through the first closing with anchor commitments from three of Colombia's pension funds, marking the first time that they've made an investment in U.S. real estate through a discretionary format. Diversified International Partners is a private equity fund developed primarily for institutional and high net-worth investors from Latin America. The investment strategy targets office, industrial, retail and multifamily properties.
"We are targeting investments in U.S. markets that we know are the healthiest and fastest-growing in terms of job recovery," said Juan DeAngulo, managing director of Houston-based Transwestern Investment Management.
Finesa, based in Washington, DC, historically has focused on the East Coast and Midwest, specifically multifamily and retail properties. Since the new fund's launch this year, Finesa has set the stage to expand nationally and across all commercial product types.