Chicago-based real estate private equity firm Origin Capital Partners has doubled its fund capital under management after pulling in $30m towards its second vehicle.
The $100m-targeting fund has already outstripped the $26m the firm gathered for its Origin Capital Opportunity Fund, which closed in November 2011.
That fund has invested in 11 properties across five states, and currently holds about $163m in assets.
The firm said Fund II would be used to buy at least 10 assets across the value added medical office, multi-family office, office, industrial and retail sectors in the US.
It has already used the vehicle to buy four properties in Chicago, Houston and Atlanta.
Equity investment by closed-end real estate private equity funds in the US was back within a whisker of its 2007 peak last year amid huge opportunity in the country’s recovering property market, according to recent research.
A total of $67bn was invested by real estate funds last year, just $1bn shy of the $68bn invested at the industry’s peak six years ago according to data compiled by Preqin.
It said that recent improvement in the US-focused real estate fundraising market means that many fund managers had a significant amount of capital to deploy in the country this year and in the future.
Copyright © 2013 AltAssets