CarVal Investors closes fourth real estate fund after raising $205m
CarVal Investors has closed its fourth real estate fund, CVI Real Estate Value Fund IV, after raising $205 million in commitments.
“Our team is focused on putting this new capital to work in value-add strategies outside of core markets, where we have expertise and experience,” said Robert Perry, senior managing director at CarVal, in a statement.
The value-add fund, which launched in third quarter 2013, will target a variety of asset types in the United States and Canada. The fund has already made a few acquisitions, including investments in major cities in Arizona, Minnesota, Colorado and Florida as well as investments in other secondary markets.
“Similar to its predecessor fund, RVF IV is a smaller, targeted fund with a shorter investment period, which allows us to work closely with our investors to quickly capitalize on the uni