Private equity firm Hawkeye Partners鈥� emerging manager strategy has backed Coretrust Capital Partners.
Scout Fund II, managed by Hawkeye, has made an initial $200m (鈧�175m) commitment to Coretrust鈥檚 first fund.
The Coretrust Value Fund I has the ability to expand to $300m and will focus on office buildings in major metropolitan markets of the West Coast, Southwest and Mid-Atlantic.
Claudia Faust, managing partner at Hawkeye, said: 鈥淭he Scout Program is designed to identify the next generation of real estate investment managers.
鈥淚nvestors today are faced with the challenges of sourcing in a competitive market and maximising investment returns.
鈥淏ecause of the massive consolidation of capital into the hands of relatively few and the subsequent change in how those managers deploy capital, many investors seek new managers.鈥�
Formed in 2014, Coretrust develops and redevelops major properties.
Coretrust managing principal John Sischo said: 鈥淎s we transitioned from closing the TPGI merger in December 2013 to forming our new firm in April 2014, a primary goal was to align with an important capital source.
鈥淲e sought an investor that would enable Coretrust to share and leverage its core competencies, deep relationships and diverse access to deal flow that has been forged over two decades of working with one another.鈥�
