Meadow Partners has raised $530m (€513.6m) for its sixth flagship real estate fund.
The middle-market real estate private equity investor said the Meadow Real Estate Fund VI fund and its dedicated co-investment vehicles were backed by a diverse base of new investors and longtime partners, including public pension plans and university endowments.
As previously reported, Virginia Retirement System approved a $125m commitment to Fund VI which will invest in opportunistic real estate in select global gateway cities, primarily London and New York City.
Meadow said Fund VI builds upon the firm’s ability to source and execute investments in opportunistic residential, industrial, and retail real estate as well as “preferred equity and distressed debt in New York City and London, and selectively in other major US and UK markets”.
Fund VI has so far committed $95m of equity in 10 investments, the manager said.
Jeffrey Kaplan, founder of Meadow Partners and managing partner, said: “We are grateful for the positive response we received for our flagship strategy from a sophisticated group of new and existing investors. Their continued confidence reflects Meadow’s differentiated investment approach and experienced team with deep-rooted relationships.
“In a challenging market environment, Fund VI has already completed numerous investments across our target markets and we have a robust pipeline of compelling opportunities.”
Since its founding in 2009, Meadow has invested over $2.8bn in equity through its opportunistic fund series.
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