Fir Tree fund exceeds equity target
Fir Tree Partners has announced the final close for its third real estate fund, raising more than $750 million in committed capital.
Fir Tree Partners Real Estate Fund III launched in 2013 with a $500 million fundraising target. Fund III is halfway through its investment period and is more than 75 percent invested. The portfolio includes investments in energy infrastructure, cell towers, self-storage and distribution facilities, as well as residential mortgage bonds, nonperforming loans and investments in catalyst-driven public equities that offer access to underlying assets at discounts to private market values.
Fir Tree’s real estate funds invest in assets and companies through debt and equity across both private and public markets. Fir Tree has invested in real estate since the firm’s inception in 1994 and launched the first in a series of dedicated real estate funds in 2008. The firm’s first two real estate funds have fully returned capit