Jadian Capital has closed a $ 650 million fund to focus on emerging real estate sectors such as life sciences, data centers and mobile towers.
The Greenwich, Connecticut-based investment firm, led by former Fir Tree Partners CEO Jarret Cohen, has exceeded its original target increase of $ 400 million. The capital for the new fund came from institutional investors, including state and corporate pension funds, foundations, foundations, investment managers and family offices.
The company is looking for highly structured deals that are traditionally overlooked by commercial real estate investors.
“We tend to make industries less competitive,” said Cohen, who noted that ancillary properties tend to outperform traditional industries over time.
Investment in real estate related to life sciences is expected to rise sharply in the future. In New York, it has poured more than $ 1 billion in venture capital funding life sciences last year, which according to JLL is 990 million USD in 2018 and 366 million USD in 2017. Demand for real estate in the data center in recent months, it has also flourished due to the popularity of streaming services such as TikTok.
Jadian Capital’s strategy is different from funds set up by similar companies Starwood Capital and Oaktree, who are trying to raise billions of dollars for deployment endangered property such as hotels and office real estate.
Cohen said dry powder will reduce the number of distress opportunities in traditional real estate industries.
“I don’t suppose you should look deep,” Cohen said.
Jadian plans invest in buying new assets or adding value to existing ones, or can invest directly in the companies they target. The company will deal with deals throughout the country.
Cohen founded Jadian Capital in 2017. Prior to that, he was a private real estate manager and partner with the New York Hedge Fund Fir Partners, which earned billions to invest in troubled real estate.
Adriatic past trades included a preferred capital position in the largest independent developer of plasma collection centers. The company also plans further investments in renewable energy projects (eg wind and solar).