Amstar Closes $335m Fund
(December 5, 2008) - Amstar Global Partners has closed its first institutional property fund on $335 million, the firm said in a statement today. The private equity real estate fund will target joint venture development projects in emerging markets of Asia and Eastern Europe. The fund is almost 90 percent invested, mainly in Russia and Turkey.
Amstar’s geographic focus will be on Russia and Turkey, a spokesperson told PERE, with around 40 percent of investments focused on Russian retail, industrial and land, with another 40 percent targeting Turkish retail. A further 10 percent will pursue three and four-star hotel developments in India.