Castleforge Partners locks down £200m for third value-add fund

Private real estate firm Castleforge Partners has raised £200 million ($241 million) for its third value-add investment vehicle.

The fund is targeting assets in the United Kingdom and has a history of investing in office and residential properties. It seeks investments on behalf of both public and corporate pension funds, endowments, and foundations in the United States, United Kingdom and Europe.

With the first close, Castleforge Partner Fund III is already 85 percent of the size of its predecessor, which raised £235.2 million ($283.9 million) at final close in 2016.

Castleforge has invested more than £500 million of asset value throughout the United Kingdom, according to the firm’s website.

The firm could not be reached to comment on its latest fundraising efforts.