Castleforge Partners has hit the final close of its third commercial real estate fund at more than £270 mln (€297 mln), the firm announced.
The fund named Castleforge Partners III exceeded its predecessor by 15% in the face of difficult fundraising conditions caused by Brexit uncertainty and the Covid-19 pandemic.
The company said it has diversified its investor base by securing new commitments from investors in Europe, North America and Latin America. Strong support also came from existing backers.
Welcoming the close, co-founder Brandon Hollihan said: ‘We are greatly appreciative of our investors, old and new, for their support and partnership.
‘It is an exciting time for Castleforge Partners, and we believe we are well positioned to access new opportunities and grow our business, while also supporting the communities in which we invest.’
Atlantic-Pacific Capital acted as the exclusive global placement agent. Partner Alex Hurst said: ‘We are pleased to close CFP III with commitments in excess of the predecessor vehicle despite headwinds in the capital markets resulting from a trilogy of events incorporating Brexit, a snap election and a global pandemic.
‘We have enjoyed the second collaboration with Castleforge Partners and expect their focus on risk management and the unremitting evolution of their platform will serve investors well.’
