Covenant Capital Group has held a final close of Covenant Apartment Fund XII with $860.35 million in capital commitments, the largest fundraise in the firm’s 25-year history.
In addition, Covenant created a sidecar vehicle for Fund XII, the Covenant Affordable Housing Fund, with $269.73 million in committed capital. The combined capital raised by Covenant for the 12th fund in its flagship value-add series and its affordable housing-focused sidecar is more than $1.1 billion.
Fund XII achieved its final close with strong backing from both existing and new institutional partners, underscoring broad conviction in Covenant’s value‑creation philosophy and long-term performance history.
“We are looking forward to implementing our time-tested investment strategy of making value-add investments to preserve apartment communities across the rapidly growing Sun Belt,” said Govan White, president and co-founder of covenant Capital Group. “The United States contin
