Fundraising - JUNE 10, 2015

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Embarcadero launches new value-added fund

by Zoë Wolff

Embarcadero Capital has launched Embarcadero Capital Investors V, its fifth fund in a series of value-added funds, and is seeking $300 million in equity.

The fund is aiming for net returns in the mid-teens, around 14 percent, according to a spokesperson for the firm. Historically, the firm has focused on office and R&D properties that are underperforming or in need of renovation. This fund will most likely invest in similar property types.

Embarcadero Capital invests mainly in the greater San Francisco Bay Area and certain submarkets in Los Angeles and Seattle. According to a spokesperson, the firm likes to invest in “West Coast major markets that have a history of strong job growth because they are attractive to technology, media, entertainment, life sciences and other creative and innovative businesses.” Embarcadero also has invested in Sacramento and Boston.

Embarcadero raised approximately $840 million for its first four funds. Emb

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