Growth capital provider Almanac Realty Investors has beaten its target for its sixth fund by collecting $819m of commitments.
Investors in Almanac Realty Securities VI have also authorised an extra $150m for potential sidecar investments, the firm said.
ARS VI will continue the previous five funds’ strategy by targeting public and private real estate companies to capitalise on the continued shift of real estate ownership to integrated entities.
LPs in the fund are believed to include the Teacher Retirement System of Texas, New York City Employees’ Retirement System and New York City Teachers’ Retirement System.
Almanac has already made three deals from its latest fund, through $125m investments in Drawbridge Realty and NRES Holdings, and a $100m investment in RAIT Financial Trust.
The $125m investment could rise to $150m each, and will be used to expand the businesses’ portfolios.
Almanac, which was previously called Rothschild Realty, has raised a total of $3.7bn since it was founded in 1981, and invested over $2.7bn into more than 30 companies.
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