LOS ANGELES—Palisades Mexico Partners hasclosed its private capital fund I with $50million, GlobeSt.com reports exclusively. The investment fund is ajoint venture between Joaquin de Monet, thefounder and managing principal of Palisades Capital RealtyAdvisors, and Sergio Arguelles, presidentand CEO of FINSA.

“The process is on-going as we will still continue to seekadditional funds,” de Monet tells GlobeSt.com. “The biggestchallenge is convincing some of the larger family offices to investin a fund format because many prefer separate accountrelationships, so we are using the fund to build a relationshipwith several of those investors.”

The fund targets “high net worth and family office investors,”from Latin American counties, according to de Monet. Theseinvestors are looking for opportunities in the US due to thecurrent recovering economic. Palisades Mexico Partners, the fund'ssponsor, will seek value-add investmentopportunities within the office sector,specifically “in quality suburban markets west of Denver and inTexas.”