FCP Realty Fund V more than halfway to $1.18b fundraising target

FCP Realty Fund V, a closed-end, value-add fund managed by Maryland-based FCP, has raised $645.9 million in capital commitments, against a fundraising target of $1.188 billion.

According to a July 7 filing with the SEC, the fund has attracted 133 investors, many of which are U.S. pension funds. The list includes the Texas County & District Retirement System, the Oklahoma Teachers Retirement System, the Regents of the University of Michigan and the Teachers’ Retirement System of Louisiana.

FCP Realty Fund V will invest in multifamily, office and mixed-use assets in the United States. The vehicle specifically targets undervalued and/or underperforming multifamily assets located primarily in select Southeast and Sun Belt markets in the United States and invests in office assets on an opportunistic basis.