Abacus raises $123m for new real estate fund
Abacus Capital Group has raised $123 million for its newly launched Abacus Multi-Family Partners IV fund, according to a filing with the SEC.
Abacus Multi-Family Partners IV is a value-added real estate fund that invests in multifamily properties throughout the United States. The fund seeks to raise $500 million in total equity commitments, according to the filing.
The fund’s predecessor, Abacus Multi-Family Partners III, held a $247.5 million final close in 2015, coming in below its $300 million fundraising target. The fund received commitments from the Indiana Public Retirement System and the Employees Retirement System of Texas.
Abacus has acquired more than $2.5 billion of real estate assets, including 23,000 apartment units.