Fundraising - JULY 7, 2014

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Carmel Partners holds $1b final close

by Andrea Waitrovich

Carmel Partners announced the final close of its fifth U.S. multifamily value creation fund, Carmel Partners Investment Fund V. The fund closed in less than nine months from launch in October 2013 and was oversubscribed on its $1.025 billion hard cap. 

With the closing of Fund V, Carmel Partners has successfully raised $3.160 billion since inception of the fund series in 2003, of which more than half, or $1.845 billion, has been raised post-global financial crisis through Funds IV and V. 

More than two-thirds of Carmel's investors participate in multiple funds. The capital raised for Fund V represents more than 50 equity commitments from a mix of existing and strategically targeted new investors.

Consistent with prior funds, Fund V will seek the best risk-adjusted opportunities across multifamily renovation, development and debt investments in relatively supply-co

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