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Bridge Investment Group Partners raises $322 million for second fund

by Sara Kassabian

Bridge Investment Group Partners has raised $322 million for its Real Estate Opportunity Capital Fund II (ROC II) in a fifth close held this week. The opportunistic fund has a $375 million fundraising goal with a hard cap of $500 million. The firm expects to raise a total of $400 million or more by a final close. Dean Allara, the COO and managing director of capital markets at Bridge Investment Group Partners, says ROC II is aiming to hold its final close by June 2013. Investors in the fund include endowment funds, foundations, public and private pension funds, corporations, family offices, and high-net-worth individuals. ROC II has deployed approximately $170 million across 25 multifamily assets in the western and southern United States. ROC II is the second fund in a series. Its predecessor, Real Estate Opportunity Capital Fund I (ROC I), launched in 2009 and held a $137 million final

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