Goldman Sachs Alternatives invests through its Vintage strategy and backs Greykite’s European real estate fund.
Greykite European Real Estate Fund I has secured a limited partner (LP) commitment from Goldman Sachs Alternatives’ Vintage Strategy. The exact amount is not disclosed, but it is believed to be around 50 million euros.
Goldman Sachs’ Vintage Strategy provides liquidity solutions for private market LP investors and general partner fund managers. In June this year, Goldman Sachs raised $3.4 billion (€3.1 billion) for its Vintage Real Estate Partners III fund, the largest amount the firm has ever received for a real estate secondary strategy.
Goldman Sachs’ commitment to Greykite’s European fund follows the fund’s first close in March 2024, which included LP commitments from Capital Constellation and Lucadia Asset Management.
This European fund was established with a flexible mandate to invest in real estate and companies across a variety of asset classes with strong fundamentals in selected European markets. This also includes opportunities arising from special circumstances or market disruptions, Greikite said.
Last month, the fund acquired the seed portfolio of a newly formed €300 million logistics partnership with White Star Real Estate. The deal includes Greykite European Real Estate Fund as an initial investment in a new joint venture with Central Europe-focused real estate development and management company White Star, consisting of three properties in Warsaw, Stryków and Gliwice in Poland. It included purchasing a portfolio of 142,000 square meters.
Michael Abel, Greykite Founder and CEO This is another important milestone as we continue to build the company.”
“This is a very interesting point in the cycle and we are in a unique position where we can make a difference with our experience and skill set.”
Igor Ostrowsky, managing director of Goldman Sachs Alternatives, said:
“Greykite has assembled a talented team and believes it is in a strong position to take advantage of attractive investment opportunities in Europe.”
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