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Alcion raises $269m for third distressed fund
Alcion Ventures has raised $269 million for its Alcion Real Estate Partners Fund III, according to filings with the SEC.
The fund launched in January 2013 with a $600 million fundraising goal. It will invest in distressed equity and debt opportunities within select major metropolitan areas in the United States and Canada.
Fund III follows the same strategy as its predecessor fund, Alcion Real Estate Partners Fund II, which closed in 2011 with more than $500 million, surpassing its $400 million target.
The firm’s debut fund, Alcion Real Estate Partners (formerly Halcyon), closed in 2005 with approximately $202 million, surpassing its $150 million target