Alidade Capital, a real estate fund manager based in Michigan, has closed its fifth value-add real estate fund, Alidade Capital Fund V (ACF V), with $250.6 million in capital commitments, surpassing the original target of $250 million.
The capital came from a diverse mix of public and private pensions, endowments, foundations, insurance companies and high-net-worth individuals in the United States.
Alidade said ACF V represents a 67 percent increase in committed capital from its predecessor fund, which closed in April 2017 with $150 million of commitments.
“We are pleased to close our fifth value-add real estate fund, which marks an exceptional milestone for our real estate platform,” said Geoff Langdon, co-founder and managing partner of Alidade Capital. “We are thankful for the strong support of our new and existing investors as we continue to build on the performance of our prior managed funds.”
ACF V will target real estate investments located