Normandy invests through our fully-discretionary investment funds, backed by some of the world’s most prestigious institutional investors. To date, Normandy manages approximately $1.5 billion of equity capital, representing over $5 billion in total capitalization. Normandy is currently investing through its fourth investment vehicle, Normandy Real Estate Fund III, LP. Its predecessor funds, Normandy Real Estate Fund I, LP; Normandy Real Estate Fund II, LP; and NREP RE Debt Fund, LP are fully invested. As a commitment to our investment decisions, our principals and senior professionals make a significant co-investment in each of our funds. This creates an alignment of interests with our investors, which commits us on a personal level to maximizing investment performance.