Fundraising - DECEMBER 15, 2016

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Carmel Partners raises $942m for apartment fund

by Jody Barhanovich

Carmel Partners has raised $941.84 million for its Carmel Partners Investment Fund VI, according to a filing with the SEC. The fund is just under its $1 billion fundraising target in equity commitments.

Carmel Partners Investment Fund VI is a value-added closed-end fund that invests in multifamily properties in select supply-constrained, high-barrier-to-entry U.S. markets, including Denver, Honolulu, Los Angeles, New York City, the San Francisco Bay Area, Seattle, and Washington, D.C. The fund, which opened in October 2015, is targeting a final close by year-end.

The fund received a commitment of $50 million from the $23 billion Texas County & District Retirement System in December 2015, and another com

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