Auerbach Funds strikes first close for $100m-targeting distressed, underperforming asset real estate fund


Auerbach Funds has hit a first close for its $100m-targeting third real estate private equity fund.

The firm said it had raised $14.7m so far for Auerbach Opportunity Fund III, which will focus on opportunistic real estate investments in distressed, mismanaged, or underperforming US assets within the multifamily, retail, and specialty class.

The “friends and family” first close was comprised almost entirely of existing investors from Auerbach Opportunity Funds I & II, it added.

Auerbach has already picked up three assets with the first close of AOF III.

Peter Auerbach, founder and managing partner of Auerbach Funds, said, “We are excited about the first close for AOF III coming from our existing investors.

“Having existing investors continue to exhibit confidence in our investment returns and performance is a great compliment to our team and its ability to successfully execute on our strategy.

“Auerbach Funds’ limited partners have come to rely on capital preservation, stable cash flow, and equity appreciation throughout all market cycles from our investment products.”

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