$120m fund closure announced.New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life Investment Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Global Capital Resources have announced the closing of more than $120 million in equity for the NYLIM-GCR Fund I-2002, L.P. Real Estate Mezzanine Fund A mezzanine fund is a type of private equity or merchant banking fund. A typical mezzanine investment consists of a debt or debt-like instrument, paired with an equity “sweetener. . (the "Fund"). The Fund is expected to have a total capitalization Total capitalization The total long-term debt and all types of equity of a company that constitutes its capital structure. total capitalization See capitalization. including leverage of over $240 million. The Fund seeks to provide superior risk-adjusted returns by investing in mezzanine loans, sub-tranche loans, and select high yielding first mortgages backed by real estate assets, real estate portfolios, and real estate operating companies. The Fund targets investments diversified by both location and by asset type and invests in office, residential, industrial, retail, and select hospitality properties. To date, the Fund has closed or committed to transactions totaling in excess of $100 million. It has received equity investments of more than $120 million from leading U.S. life insurance companies, real estate operating companies, and high net worth individuals. New York Life Investment Management LLC and its affiliates, with more than $180 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of January 31, 2004, provide a wide range of investment services to institutional, individual, corporate, public, and Taft-Hartley clients. |
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