Perseus Realty Capital LLC (PRC), a boutique investment bank, has formed PRC Securities, which will operate as a subsidiary of PRC and will formalize its fundraising capabilities.
Jay Jarrett, managing director, says that PRC Securities will raise joint-venture equity for project-level and programmatic investments, as well as commingled discretionary funds for public and private real estate investment companies globally. The formation of PRC Securities was part of Perseus Realty Capital's business plan at its inception three years ago.
The firm will selectively target fund raises of $350 million to $500 million, which Perseus Capital believes is a growing and underserved area of the market. As part of the effort, Julie Rost from Eastdil Secured has been hired to head up West Coast relationships. Perseus Realty Capital will continue to build out its team in the U.S.
Source: Perseus Realty Capital