Avanath Oversubscribes Fourth Fund with $760M in Commitments

Avanath Capital Management has closed its fourth discretionary housing fund. The fund closed oversubscribed with $760 million in capital commitments, significantly higher than the original target of $550 million. In keeping with Avanath’s core business strategy, the fund will invest in affordable and workforce housing across the US with a focus on assets in underserved neighborhoods and communities of color.

“We have really been successful in institutionalizing the product and getting large investors interested. It has become accepted as a viable asset class that is durable and stable—and safe,” John R. Williams, president and CIO at Avanath, tells GleobSt.com. “We also expanded our network much more aggressively into Europe and Asia. Because of the durability and the defensive nature of the asset class, the dynamics of affordable housing are very of interest and interest to European and Asian investors.”