US real estate manager Carmel Partners has raised $1.35bn (€1.16bn) for its latest multi-family fund, which has already acquired nine operating assets.
The manager said the Carmel Partners Investment Fund 9’s fundraising was backed by investors including US and international pension funds, endowments, foundations, select family offices and high-net-worth managers.
Carmel Partners, which focuses on multi-family investments including development, debt and operating assets, said it has committed $477m in equity to seed the portfolio for its latest fund.
Ron Zeff, founder and CEO of Carmel Partners, said: “We are grateful for the continued support of existing investors and welcome our new investors. We value the trust they place in us to invest on their behalf.
“Fund 9 has a well-seeded portfolio with $477m in committed equity and is deploying into what we believe is the most attractive multi-family opportunity set that the firm has seen in almost 30 years of investing.”
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