Abacus Multi-Family Partners V closes in on fundraising target

New York–based Abacus Capital Group has raised $541 million for its new multifamily fund, Abacus Multi-Family Partners V, according to an SEC filing.

The fund has already garnered support from 20 investors. In November 2019, the Texas Municipal Retirement System (TMRS) approved a $100 million commitment to the fund, which is targeting $790 million.

Abacus Multi-Family Partners V will invest in multifamily properties with specific characteristics, such as relative affordability in markets and submarkets showing favorable multifamily trends.

The fund’s predecessor closed above target, with $512.5 million in commitments against a $500 million target.