True North Management Group, a private real estate investment management firm based in New York City, has opened its next real estate fund, True North Real Estate Fund IV, according to a filing with the SEC. The firm did not comment on its fundraising efforts.
According to the filing, True North is seeking to raise $650 million in equity for the fund, and as of April 10, has raised $145 million.
The fund is a follow-up of True North Real Estate Fund III, which held a $548 million final close in 2015. Atlantic‐Pacific Capital, a privately owned global placement agent and advisory firm, assisted with the close.
True North’s real estate fund series focuses on investments in high-yield commercial real estate debt and equity in the United States. Within their distressed debt investments, the fund series seeks to purchase deeply discounted nonperforming loans on assets burdened by legacy capital structure issues or undercapitalized sponsorship. In addition, it
