Sonny Kalsi, Fred Schmidt and John Carrafiell, who ran Wall Street’s largest real estate investing group at Morgan Stanley until the market crashed, are seeking to raise $800 million to capitalize on the wreckage.
Their new firm, GreenOak Real Estate LP, has raised about $300 million for a debut U.S. fund and is about halfway toward its $500 million target for a Japan fund, according to marketing materials. The New York-based company expects to finish gathering pledges for the U.S. pool by the end of September and for the Japanese one early next year.
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