The London-based Children’s Investment Fund inked its first New York City real estate investment this month, providing $250 million in first mortgages for Macklowe Properties’ condominium conversion of the luxury apartment building 737 Park Avenue in Lenox Hill.
The fund, run by low-key hedge fund manager Christopher Hohn, makes investments in a wide range of industries globally, and gives a portion of its profits to children’s charities around the world.
“It is the first direct real estate investment we have made in New York,” Martin Frass-Ehrfeld, a partner with the fund, said. It is not the first in the United States, however. … [more]