San Francisco-based hedge fund firm Farallon Capital Management is currently raising capital for a new real estate fund.
Reuters reported that the firm is targeting its current investors to raise $350 million to $400 million to set up the new fund. The article also said that the fund is aiming a 20% internal rate of return and will require a three-year investment minimum.
The new fund will primarily target real estate in the U.S.
Farallon manages more than $20 billion in assets.