“We’re really hunting for idiosyncratic opportunities,” said Cohen, 40, who is a Declaration partner. “Our flexible capital can be a real advantage.”
Real estate has long been a popular asset for many of the world’s rich, from Zara founder Amancio Ortega to the Safra banking dynasty, as it offers stable cash flows, tax breaks and leverage opportunities.
Declaration Partners has about 40 investors from the US, Middle East and Latin America for its 10-year fund, which has options for its backers to extend their holding period.
Family offices are increasingly looking to invest alongside one another, said Daniel Costello, managing partner at merchant bank Participant Capital. Their long-term outlooks “are often far more aligned than with traditional funds.”
--With assistance from Heather Perlberg, Will Louch and Dawn Lim.
This article was provided by Bloomberg News.