Private equity funds, already a well‐established market for real estate capital in the USA, are becoming a significant source of funding on the other side of the Atlantic. The unification of Europe, coupled with investors' greater familiarity with the private equity model, has resulted in an increase in the flow of private capital into European real estate – a trend that is likely to continue over the next several years. This paper seeks to acquaint developers, lenders and investors with the basic structure and characteristics of a real estate private equity fund, including the key issues and documents involved.
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Larkin et al. (2004) studied this question.