Fundraising - APRIL 27, 2015

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Carmel Partners launches mega-fund

by Andrea Waitrovich

Carmel Partners has a fund in the market, launched in January 2015, targeting a multibillion-dollar fundraise, according to IREI’s FundTracker database.

CP U.S. Multifamily Property Fund has a $2 billion fundraising target and aims to hold a final close by December 2016. It will invest with a core-plus style in the U.S. multifamily sector.

The firm held a final close for its fifth U.S. multifamily value creation fund, Carmel Partners Investment Fund V, in 2014. The fund closed in less than nine months from launch in October 2013 and was oversubscribed on its $1.025 billion hard cap.

Over the past two years, real estate mega-funds have raised $100.9 billion, and funds currently fundraising have raised a total of more than $36 billion in equity

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