Cypress Equities has $400m final close on retail fund
Dallas-based Cypress Equities has had a $400 million final close on Cypress Acquisition Partners Retail Fund, a value-added fund that will invest in retail assets across the United States.
“We believe that our team’s experience and reputation, combined with the strength and potential of well-located retail assets, contributed to the successful fundraise completed by CAPRF,”says Todd Minnis, chief investment officer for Cypress Equities, in a statement.
The value-added fund launched in June 2012 and held a $196 million first close in May 2013.
CAPRF is the firm’s first institutional fund and is seeking returns of approximately 17 percent. Investors in the fund include public and corporate pensions, sovereign wealth funds, endowments, foundations, family offices, and funds of funds. One such investor was the $28.5 billion Connecticut Retirement Plans and Tr