Kuwait Investment Authority –KIA, sovereign wealth fund, whose holdings include the mayor of London’s headquarters, has handed a former Goldman Sachs partner $1.5 billion of cornerstone capital for his new property investment firm.
With appetite for real estate investment strong and prime commercial property in London in particular demand, Ed Siskind has launched a UK limited-liability partnership called Cale Street Partners.
The firm, according to the agenda for a Harvard University property conference last month, is a “Europe-focused real estate finance firm that provides senior and mezzanine debt as well as equity capital in partnership with best-in-class developers, operators and institutions”.It was “seeded with approximately $1.5 billion from a sovereign wealth investor”, according to the agenda.
The investor is the Kuwait Investment Authority, which was formed in 1953 and has some $548 billion in assets, according to data from the Sovereign Wealth Fund Institute. Its assets include the More London complex in central London, which includes City Hall and was acquired early this year, according to press reports on the GBP1.7 billion purchase at the time.
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