Conundrum Capital Corporation launches fifth multi-residential real estate fund

Conundrum Capital Corp., a Canadian private equity investment management firm, has launched its fifth real estate fund in this asset class, Q Residential Multi-Family Private Equity Fund V. The firm did not comment on its fundraising efforts.

The new core-plus fund will invest in multifamily properties in Canada’s major urban markets with a focus on the Ontario market. At this stage in the fundraising process, the firm is seeking to raise capital in the area of C$300 million ($240 million) or more. The fund is being offered to resident and nonresident investors.

The fund series’ track record is to fully deploy funds before launching the next fund in the series. The fund’s predecessor, Q Residential Property Income Fund IV, held a C$243 million ($194 million) final close in 2015. The fund is now fully deployed. Conundrum Residential Income Fund III closed in 2012 after it ra