SAN FRANCISCO—Carmel Partners has held a finalclose of its fifth US multifamily value creationfund, Carmel Partners Investment Fund V. TheFund closed in less than nine months from launch in October2013.
The fund was oversubscribed on its $1.025 billion hardcap. With the closing of Fund V, Carmel Partners hassuccessfully raised $3.16 billion since inception of the fundseries in 2003 of which more than half, or $1.845 billion, has beenraised post-global financial crisis through Funds IV and V,according to the firm.
More than two-thirds of Carmel's investors participate inmultiple funds. The capital raised for Fund V represents morethan 50 equity commitments from a mix of existing andstrategically-targeted new investors.
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