Whitehall Street Global Real Estate Limited Partnership 2007
Whitehall Street Global Real Estate Limited Partnership 2007 is a real estate private equity fund that was launched in 2007 by Goldman Sachs. The fund was created to invest in commercial real estate assets globally, focusing on major markets including the United States, Europe, and Asia. The fund was closed to new investors in 2008 after raising $4.2 billion in capital commitments.
The Investment Strategy
The investment strategy of Whitehall Street Global Real Estate Limited Partnership 2007 was to acquire distressed real estate assets and reposition them for sale or long-term ownership. The fund targeted assets that were undervalued due to market conditions, poor management, or lack of capital investment. The fund utilized a value-add investment strategy, which involved making improvements to the properties to increase their value and generate higher returns.
Portfolio Holdings
Whitehall Street Global Real Estate Limited Partnership 2007 invested in a variety of real estate assets, including office, retail, residential, hotel, and industrial properties. Some of the notable investments made by the fund include the acquisition of a 50% stake in the Lloyd's Building in London, the purchase of a portfolio of 10 office buildings in Tokyo, and the acquisition of a portfolio of industrial properties in the United States.
Performance
The performance of Whitehall Street Global Real Estate Limited Partnership 2007 has been mixed. The fund generated strong returns in its early years, with a net internal rate of return (IRR) of over 20% in 2009 and 2010. However, the fund's performance declined in subsequent years, with a negative net IRR of -1.9% in 2015. Overall, the fund has generated a net IRR of 10.5% as of September 2021.
Conclusion
Whitehall Street Global Real Estate Limited Partnership 2007 was a real estate private equity fund launched in 2007 by Goldman Sachs. The fund invested in commercial real estate assets globally, utilizing a value-add investment strategy to generate higher returns. The fund's portfolio holdings included office, retail, residential, hotel, and industrial properties. The fund's performance has been mixed, with strong returns in its early years and declining performance in subsequent years. Overall, the fund has generated a net IRR of 10.5% as of September 2021.