HCI: US umbrella property fund exceeds target
According to information from the firm, HCI Hanseatische Capitalberatungsgesellschaft mbH's umbrella property fund, HCI Real Estate Growth I USA, has currently exceeded its 2007 target by 13%. The fund is currently invested up to 63%. According to its own information, HCI wants to invest nearly US$100mn of the fund's own capital in seven target funds. The target funds in question are from CB Richard Ellis, Blackstone, Walton Street, AEW, GMAC, and RECAP with a total investment volume at over US$50bn.