Alex. Brown Realty launches ABR Chesapeake Fund V
Alex. Brown Realty has launched its fifth Chesapeake real estate fund. ABR Chesapeake Fund V held an initial close of $175 million in January. The fund is targeting $400 million of equity commitments.
Following the strategy of its predecessor funds, Fund V will invest in assets that require financial restructuring, recapitalization, redevelopment and/or repositioning.
Fund IV is the firm’s largest fund to date, having closed the $282 million fund in August 2012. Investors in Fund IV included the West Virginia Investment Management Board, the Montana Board of Investments, and others.
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