Legendary LBO billionaire David Rubenstein sees opportunity in multifamily housing

An investment firm backed by Carlyle Group Inc. co-founder David Rubenstein and other members of the world’s rich is looking to bolster its US property investments during a downturn in the sector.

Declaration Partners is seeking to raise about $400 million from wealthy individuals and family offices to make investments in areas including multifamily housing and industrial properties for the firm’s second real estate fund, according to people with knowledge of the matter.

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