US real estate fund manager Town Lane has closed its second opportunistic fund at its $1.9bn (€1.7bn) hard cap, exceeding its original $1.5bn target.
Town Lane Real Estate Opportunities Fund II’s final close exceeds the $1.25bn raised for the firm’s inaugural fund in 2024.
Fund II, which was backed by university endowments, charitable foundations, family offices and pension funds, invests across commercial real estate sectors and the capital stack in the US, with a focus on senior housing, necessity retail, small-format industrial, and powered shell data centres.
Tyler Henritze, founder and managing partner of Town Lane, said: “We are fortunate to be playing offense with fresh capital at a time of increasing market dislocation.
“In today’s dynamic real estate investment environment, the combination of a nimble team, a flexible mandate and ample capital to pursue larger, high conviction opportunities is a real advantage.”
Parker Morse, co-founder and COO of Town Lane, said: “We are humbled by the continued support of our Fund I investors and grateful to our new partners in Fund II who have backed us and the team we have built.
“Our job now is to continue to invest thoughtfully and relentlessly focus on value creation to deliver differentiated returns for our investors.”
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