Ascentris, a private equity firm based in Denver, has held a first close for its Ascentris Value Add III (AVA III) with $105 million.
The closed-end domestic, diversified value-added fund is targeting $300 million in equity commitments, confirmed Patrick Kendall, the firm’s managing director, in an email.
The fund received backing from three institutional investors and one wealth manager.
Ascentris manages a series of fully discretionary institutional vehicles targeting core, value-add and opportunistic investments across all the major property types and geographic regions within the United States, according to the firm’s website.
It has $1.3 billion in assets under management.
