May 9, 2006
Private equity funds managed by Willkie client Fortress Investment Group LLC purchase portfolio of 43,000 city-owned residential units from the east German City of Dresden.
It was recently announced that private equity funds managed by Willkie client Fortress Investment Group LLC purchased a portfolio of 43,000 city-owned residential units from the east German City of Dresden in a deal valued at €1.75 billion. Headquartered in New York, Fortress Investment Group is a global alternative investment and asset management firm with approximately $21 billion in equity capital under management. Fortress manages capital for a diverse group of investors including approximately 300 leading pension funds, endowments and foundations, financial institutions, funds of funds and high net worth individuals. The transaction was handled by partner Jochen Winter, special European counsel Carolina Wodtke, and associates Michael Bernhardt, Wolfgang Münchow, and Christoph Schmid. Mr. Winter also recently advised private equity funds managed by Fortress on the €1.5 billion acquisition of GAGFAH Group, a private real estate portfolio company comprising 77,000 apartments and on the €3.3 billion acquisition of NILEG Group, a private real estate portfolio company comprising 27,000 apartments.