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04-06-14

PineBridge completes USD140m GCC real estate fund

(MENAFN) PineBridge Investments Middle East (PBME) could raise as much as USD140 million by completing the first close of PineBridge GCC Real Estate Fund I, according to Gulf Daily News. Bahrain headquartered PBME is a global multi-asset class investment manager covering the Middle East, North Africa and Turkey. The fund exceeded its target first close of USD100 million and is targeting a USD200 million final close. PBME chief executive Talal Alzain said: "There is a number of opportunities to invest in specialist real estate assets that generate stable returns and unlock capital for business owners in the GCC."