Alterra IOS Venture II closes above $400m target

Alterra Property Group and Park Madison Partners have closed their Alterra IOS Venture II fund above target, with $524 million of total commitments against a fundraising goal of $400 million.

Alterra IOS Venture II, which launched in the summer of 2021 in partnership with Park Madison Partners, is Alterra’s first discretionary fund. The fund’s limited-partner mix included public and private pensions, endowment and foundations, asset managers, family offices, and high-net-worth individuals. Two California pension funds — the San Francisco Employees' Retirement System and the Ventura County Employees’ Retirement Association — are known to be among the list of investors in the vehicle.

Alterra IOS Venture II is a continuation of Alterra’s Industrial Outside Storage (IOS) investment strategy, which launched in 2016. Alterra focuses on acquiring low-density, supply-chain and infrastructure real estate in core infill locations. Alterra now is one of the largest i