DFX Intelligence
Real Estate Fund Intelligence
The manager graph behind U.S. private real estate capital. Which vehicles a manager swears to, what each reports year by year, what the manager says it does, and, where the evidence holds, which owner entities, properties, loans, lenders and pensions stand behind it. GAV is gross asset value on a filing date, never fund size, and every manager-to-property link carries its evidence class.
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Manager
F••••••• C•••••• P•••••••• L••
What capital do they manage?
- Real estate GAV
- $2.1B GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 4 current, 4 ever, 0 dropped0 feeders, 0 funds of funds
- First on the tape
- 2012the extract starts in 2011; an earlier history is not visible
- Latest filing
- Mar 22, 2024registered adviser
- Adviser RAUM
- $1.4Bthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 4
- Latest vintage
- 2024from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
stated by the manager
- Strategy
- Opportunistic
- Operator model
- Hybridbasis: stated
- Property types
- Healthcare, Hotelbasis: stated
- Markets
- not stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- AUM in its own words
- $9.5 billion of gross investments since inceptionthe manager's statement, not a DFX figure
In the manager’s own words
- Debt: “F••••••• seeks to deliver attractive risk-adjusted returns through a mix of debt and equity strategies, with investment durations typically under 5 years.”
- Development: “Programmatic Development Joint Ventures”
- Value add: “Recapitalizations and Stabilizations”
- Opportunistic: “F••••••• Capital Partners has built a legacy of investing in complex and challenging market sectors.”
- Healthcare: “over 44% of F•••••••’s $9.5 billion of gross investments have been in health care sectors”
- Hotel: “Approximately 40% of our gross investments have been in hospitality, an operating-intensive sector, similar to health care, that requires meeting consumer needs across diverse geographies and differentiated operating environments.”
Vehicles
4 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| F••••••• B•••••• I••••••••• L•• 805-2032913906 | fund | $1.1B GAV 2024 | 1 | 2012* to 2024 | unknown | Mature | |||
| S••••• P••••••••• L•• 805-9997045895 | fund | $745M GAV 2024 | 60 | 2023 to 2024 | 2023 | Investing | |||
| F••••••• M••••••••• P••••••••• L•• 805-8258648430 | fund | $280M GAV 2024 | 2 | 2024 to 2024 | 2024 | Unknown | Core | ||
| O•••••••• O••••••••• F••• L•• 805-2589763027 | fund | $9M GAV 2024 | 6 | 2023 to 2024 | 2023 | Investing | Opportunistic |
What do they actually own?
1 trusted of 4 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| F••••••• B•••••• I••••••••• L•• IN | F••••••• B•••••• I••••••••• L•• | 1 | 1 ($4.4M) | Corporate filing cmbs_annex_sponsor_named |
What are they buying, selling and financing?
0 acquisitions, 0 sales, 0 financings in 12 months
- loan eventJun 25, 2020$4.4Mcmbs_trust2736 EAST 146TH STREET, IN through F••••••• B•••••• I••••••••• L•• with B•••• M••••••• T•••• 2••••••Securitised debt reporting sec.gov
Who finances them?
1 loans, 1 lender groups, next maturity Mar 1, 2030
- cmbs_trust single1 loans, $4.4M, Jun 25, 2020 to Jun 25, 2020
Who backs them?
0 allocators, 0 rows
No institutional LP disclosure resolved to this manager.
People
Form ADV Schedule A, latest filing
- T•••••• C•••••• G••• Executive Vice President And Chief Strategy Officer since 2003-11
- R••••• E••••• S•••• Member, Ceo And President since 2003-11
- M•••••• O•••• R••••••• Chief Acquisition Officer since 2003-11
- D••••• A•••••• F•••••• Chief Operating Officer And Chief Compliance Officer since 2018-10
- L•••• R•••••• H••••• Chief Financial Officer since 2021-05
What is changing?
- Vehicle first reported Mar 22, 2024 (observed) F••••••• M••••••••• P••••••••• L•• first reported on Form ADV by F••••••• C•••••• P•••••••• L••, GAV $280,000,000
- Vehicle first reported Mar 24, 2023 (observed) O•••••••• O••••••••• F••• L•• first reported on Form ADV by F••••••• C•••••• P•••••••• L••, GAV $10,600,000
- Vehicle first reported Mar 24, 2023 (observed) S••••• P••••••••• L•• first reported on Form ADV by F••••••• C•••••• P•••••••• L••, GAV $650,000,000
- Vehicle first reported Feb 10, 2012 (observed) F••••••• B•••••• I••••••••• L•• first reported on Form ADV by F••••••• C•••••• P•••••••• L••, GAV $35,400,000 (tape start: the fund may be older)
- First ADV filing on the tape Feb 10, 2012 (observed) F••••••• C•••••• P•••••••• L•• first filed Form ADV in the extract (IA)
Across DFX
Bridged by shared CRD, CIK or SEC fund id only; the same institution’s PE portfolio companies and its real estate holdings stay on their own graphs.