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ElmTree Funds announced the closing of its largest commingled fund to date, ElmTree U.S. Net Lease Fund IV.

The fundraising effort for Fund IV, led by Annie Hsieh, head of capital formation at ElmTree, did not include a private placement agent for the marketing process, and ElmTree nevertheless exceeded Fund IV’s original hard cap of $800 million with $888 million of investor commitments.

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