Fairfield, an owner, developer and operator of apartment communities throughout the United States, has launched a new open-ended vehicle, the Fairfield Affordable Housing Preservation Fund.
Fairfield said it is currently raising founders round capital with a target of $1 billion of equity commitments. The fund has already captured some $600 million of equity commitments this year from a mixture of U.S. and global pension funds and foundations.
“Fairfield has long recognized the opportunity to invest responsibly in affordable housing,” said Josh Kawaii-Bogue, executive vice president and senior fund manager at Fairfield. “As an experienced operator and manager of over 50 LIHTC properties in 20 markets across the U.S., Fairfield has been able to provide an institutional level of care to the investments we make in this regulated apartment sector. We want our residents to benefit from the added capital improvements and services offered to the communities where they r