Goldman Sachs Vintage Funds has made an undisclosed investment in Elion Partners. The capital infusion will be used by Elion to invest in last-mile logistics real estate.
NEW YORK–(BUSINESS WIRE)–Elion Partners (“Elion”), a real estate investment firm, today announced a strategic investment from Goldman Sachs Vintage Funds (the “Vintage Funds”) in an Elion-sponsored investment vehicle that holds an existing portfolio of last-mile logistics real estate. The investment vehicle plans to continue to pursue an investment strategy focused on first, middle and last-mile logistics real estate, targeting strategic infill locations in high growth urban markets throughout the country.
Elion recently aggregated a portfolio of more than 3 million square feet in strategic infill locations across core U.S. markets. This includes six distribution buildings acquired in Q1 and Q2 2020. The firm also announced its expansion to the West Coast earlier this year with the addition of a new hire, Senior Managing Director James Lambert, who joined the firm from Amazon Logistics. As a vertically integrated firm, Elion owns and operates logistics assets in closed-end fund structures and permanent capital vehicles. The firm is a minority-owned registered investment adviser.1
“The impact of the crisis has resulted in increased demand for an already active logistics real estate market,” said Juan DeAngulo, Managing Partner at Elion. “E-commerce adaptation and the need for supply chain onshoring are both pre-crisis trends that have been accelerated, which have combined with the emergence of increased inventory levels as companies look to mitigate future volatility risk. We look forward to acting on our pipeline of identified opportunities and continuing the expansion of Elion’s logistics portfolio across our identified markets.”
In May 2020, Goldman Sachs announced that it had raised its second dedicated real estate secondaries fund, Vintage Real Estate Partners II with approximately $2.75 billion in capital commitments. The fund invests globally in both traditional real estate limited partnership interests as well as more complex structured and non-traditional secondary transactions, providing liquidity to investors in illiquid real estate assets.
“We are excited for the Vintage Funds to get exposure to a high-quality existing logistics portfolio and are looking forward to partnering with Elion on their existing pipeline of opportunities,” said Sean Brenan, Managing Director at Goldman Sachs.
About Elion Partners
Elion Partners is a real estate investment firm and registered investment adviser.1 As a vertically integrated platform, Elion is both a fiduciary and operator, managing more than $1.5 billion in real estate assets through closed-end funds and permanent capital investment vehicles. As long-term stewards of capital, principals of Elion invest personally in each of the firm’s funds to ensure alignment of interests and transparency with its capital partners. http://elionpartners.com/
About the Vintage Funds and Goldman Sachs Alternative Investments
With over $38 billion in committed capital since inception, the Vintage Funds have been innovators in the secondary market for over 20 years. Investing globally and across a range of asset classes, the Vintage Funds provide liquidity, capital and partnering solutions to private market investors and managers worldwide.
Goldman Sachs is one of the world’s leading investors in alternative investments. With over 30 years of experience, we invest in the full spectrum of alternatives, including private equity, growth equity, credit, real estate, infrastructure, ESG, and absolute-return strategies. Our clients access these solutions through our direct proprietary strategies, customized strategic partnerships, and open-architecture programs. Our alternative investment teams represent over 1,300 professionals, across 31 offices around the world. We leverage the depth and breadth of global relationships across Goldman Sachs to identify investment opportunities, drawing on our firm-wide capital market insights, industry research, and risk management platforms. We extend these capabilities to the world’s leading pension plans, sovereign wealth funds, governments, financial institutions, endowments, foundations, family offices and individuals, for which we invest or advise on over $320 billion of alternative investments.
1 Elion is registered as an investment adviser with the SEC under the Investment Advisers Act of 1940 (the “Advisers Act”). Registration as an investment adviser with the SEC or with any state securities authority does not imply a certain level of skill or training.