Fairfield held a final close for its Fairfield U.S. Multifamily Value Add Fund IV with $1.47 billion in equity commitments, according to a statement from the firm.
With an initial fundraising goal of $1 billion, the fund raised $470 million in equity over its target. It is a value-added, closed-end fund, with a focus on class B and class C apartment assets in the United States. Its predecessor, Fairfield Value Add Fund III, closed with $1 billion in equity.
Fairfield is a vertically integrated multifamily company that has $12.3 billion in total assets under management, including multifamily acquisitions, development and debt strategies.
