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Fundraising - APRIL 23, 2014

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Embarcadero holds final close for fourth fund

by Reg Clodfelter

Embarcadero Capital Partners has held a final close for Embarcadero Capital Investors IV after raising $155 million in commitments.

The fund, which launched in June 2012, will use a wide variety of investment strategies, including traditional value-add redevelopment/repositioning as well as opportunistic buys of underleased properties. It will invest exclusively in office and R&D properties in a limited number of innovation centers in the Western United States, including the San Francisco Bay Area, Westside Los Angeles, Hollywood/West Hollywood, L.A. Media District and Pasadena. Expected net returns for the fund will be in the 12 percent to 16 percent range.

Investors in the fund are a similar blend to those from Embarcadero’s past funds, including endowments, foundations, trusts and family offices, and insurance companies. San Francisco–based Embarcadero Capital Partners is a real estate investment an

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