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NEW YORK CITY-Vornado Realty Trust is looking to raise $1 billion in private equity for a fund aimed at distressed assets, according to the Wall Street Journal. The fund, Vornado Capital Partners LP, will look to “generate returns over 20%” and will most likely focus on office and retail properties in New York and Washington, DC.

Vornado itself is putting in 20% of the capital for the fund, which can generate fees and profits for the company, but much of the profit will go towards the private investors, as opposed to shareholders.

To read the complete WSJ article, click here.

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