ElmTree Funds closed its largest commingled fund to date

Missouri-based ElmTree Funds has closed its largest commingled fund to date, ElmTree U.S. Net Lease Fund IV, above its original hard cap of $800 million.

Fund IV wrapped up fundraising with $888 million of commitments from new and existing investors, giving it some $2.5 billion in immediate investment capacity. Around $800 million has already been committed and deployed.

The fund’s investor base consists of major public and private pension plans, insurance companies, endowments, and foundations. The vehicle is targeting investments in industrial and logistics assets across the United States. ElmTree typically targets strategically located markets with strong market leasing fundamentals, positive demographic trends, and superior accessibility to major transportation hubs.

“The COVID-19 health pandemic has accelerated the ongoing trend of population migration from gateway cities to growing primary and secondary markets, including very attractive areas such as