Elion Partners has raised $500m (€422m) in a final close for its latest value-added fund and its first institutional industrial vehicle.
Elion Real Estate Fund V attracted investment from Goldman Sachs Asset Management’s Vintage Funds, Wells Fargo Bank, Belay Investment Group, BGO Strategic Capital Partners, Artemis MWBE Spruce Program, Portfolio Advisors and a number of other US institutional investors and family offices.
The company said it manages more than $2bn in real estate assets and is 100% minority-owned and its team is 65% diverse.
“As an emerging and diverse manager, the successful fundraise of our latest closed-end vehicle represents an important milestone in the institutional growth of Elion’s platform,” said Lindsey Sugar, senior managing director of capital markets.
“We are grateful for the confidence entrusted in Elion by our new institutional capital partners and appreciate the continued support from our existing investors who have been investing with Elion for a decade.”
The fund targets logistics real estate assets in core infill US coastal markets.
“Our relationship and data-driven approach to sourcing opportunities early has enabled us to remain active throughout the pandemic, deploying approximately 60% of the fund’s commitments across 21 assets to date,” said Juan DeAngulo, managing partner of Elion.