Declaration Partners, an investment firm backed by Carlyle Group Inc. co-founder David Rubenstein, has raised $240 million for its inaugural real estate fund.
The fund is targeting multifamily and industrial properties across the United States. The fund has started to invest in its capital. The assets include a logistics center in California; student housing in Pittsburgh; and an apartment building in Charlotte, N.C.
Investors include high-net-worth individuals and family offices.