Equus Capital holds fifth close for value-added fund
Philadelphia-based Equus Capital, formerly BPG Properties, has held a fifth close of $157.2 million for BPG Investment Partnership IX. The fund has a value-added investment strategy that is diversified geographically and by investment product.
BPG Investment Partnership IX has a $250 million fundraising goal and a scheduled final close for September 2013, says Joseph Nahas, vice president at Equus Capital. Nahas expects there to be a sixth close on July 1, 2013.
Nahas says approximately two-thirds of the fund’s investors are public pension funds, while the remaining third is a mix of high-net-worth individuals and foundations.
The fund first launched in September 2011 and acquired its first asset in February 2012. The fund has invested approximately $63 million of its capital across seven assets in the United States. Nahas says the fund will acquire a mix of office, multifamily and ind