European Property Buyers Seek Bigger Targets as Funds SwellBy
Closed-ended funds have a record $72 billion to spend
Buyers are cobbling together portfolios to get higher prices
Lone Star Funds first offered to buy London property developer Quintain Estates & Development for a 22 percent premium. With investors competing for real estate assets across Europe, hedge fund Elliott Associates was able to sway the private-equity firm to raise its bid.
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