Blado Investments  (a closed end real estate fund managed by hedge funds US giant manager Elliott Associates, founded by Paul Singer) conquers a 24.8% stake of Alpha Immobiliare fund, managed by Idea Fimit sgr, and a 4.9% stake of Immobiliare Dinamico fund, managed by Bnp Paribas Real Estate Investment Management Italy, as Blado announced yesterday evening it had waived for both offers the condition to hold 50% plus one of the shares in the two Italian real estate funds’ capital.
The two offers had expired last August 23rd. At the end of July Elliott had raised its previous bid on the two funds  (see here a previous post by BeBeez) while it had chosen not to proceed on its offer on Mediolanum Real Estate, managed by Mediolanum Gestione Fondi sgr, after Duomo Holdings, an investment veichle controlled by TSSP Adjacent Opportunities Management, Tpg‘s credit and special situations platform had launched a counter-bid at the end of June. Duomo Holdings’ bid however did not succed.
On the contrary Blado Investments’ bid on Polis fund managed by Polis sgr had closed at the end of July with a succees as Blado conquered a 16.06% stake in the fund again waiving the condition to hold a 50% plus one of the shares in the fund.
