Fundamental Advisors, an alternative asset manager dedicated to municipal and public purpose investing, has held a final close for its fourth flagship private equity fund, Fundamental Partners IV LP (Fund IV), with $1.43 billion in capital commitments, exceeding its original target of $1 billion.
The fund received enthusiastic support from a majority of existing investors along with a diverse group of new investors including state pension plans, insurance companies, university endowments and private wealth platforms.
Fund IV will continue Fundamental's strategy of employing both private equity-style control and high-yielding private credit practices to invest in essential community assets, such as affordable and workforce housing, renewable energy, senior care and infrastructure.
To date, Fund IV has already invested more than $1 billion. Fund IV's predecessor fund, Fundamental Partners III LP, closed in May 2017, with nearly $1 billion in total commitments. Sin