AllianceBernstein raises $60m for second real estate fund
New York City–based AllianceBernstein has raised $59.4 million for its second real estate fund, AllianceBernstein U.S. Real Estate Partners II, according to a filing with the SEC.
No fundraising target was disclosed, though its predecessor fund, AllianceBernstein U.S. Real Estate Partners, raised $680 million by its final close in April 2012. USREP targeted both debt and equity investment opportunities across all property types and geographic locations throughout the United States with a focus on the recapitalization of distressed assets.
According to a press release announcing the predecessor fund’s final close, USREP was “looking to make investments of $20 million to $100 million per transaction and e