Texas Firm Hines Raises $650 Million for U.S. Property Bets

Bloomberg, Aug. 9, 2021–Gillian Tan
Real estate investment firm Hines has raised $650 million for a new fund dedicated to snapping up properties within the U.S. Including a $100 million commitment from Hines, the open-ended, or perpetual, vehicle is projected to amass $1 billion by Sept. 30 with a goal of collecting about $1 billion per year in fresh capital in coming years, said Alfonso Munk, the firm’s chief investment officer in the Americas.