Rogers Orf is to lead a drive into continental Europe by US-based Lone Star, the world’s biggest dedicated real estate fund.
Lone Star is to spend $8bn (£7.5bn) from its fourth opportunity fund, Lone Star IV, and hopes to gear the $4.2bn (£3bn) up by around 75%, to create a $16bn (£11.4bn) global fund.
Up to half of that money could be directed at the Continent and the UK.
In 1995, Orf set up the European fund Pelham Partners with Don Blenko, an ex-colleague from Goldman Sachs, to source and co-invest in US-based Apollo Real Estate Advisors’ European deals.
He will become the Lone Star real estate fund’s European operations partner, based at the company’s London HQ.
Pelham will be wound down over two or three years, under Don Blenko, who plans to return to the US afterwards.
Property Week 15/03/02 page 1
