Fundraising - JUNE 27, 2022

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Brasa Capital Management closes second real estate fund above target

by Kali Persall

Los Angeles-based Brasa Capital Management has closed the Brasa Real Estate Fund II at its hard cap of $450 million. The fund surpassed its $300 million target, with commitments coming from 15 corporate pensions, public pensions and foundations.

Brasa Capital focuses on middle-market, real estate opportunities throughout the Western U.S. and Texas. The firm invests between $5 million and $35 million in equity on diverse property types, with a particular emphasis on multifamily and industrial real estate assets.

The firm closed its initial fund in May 2019, a year after its founding, with $120 million in capital commitments. Brasa Capital said 100 percent of the institutional investors in Fund I also committed to Fund II.

“While the larger real estate transactions attract most of the attention, it’s the middle market that drives the industry,” said Eric Samek, founder and managing director of Brasa Capital. “The success of our first fund demonstrated the

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