Fundraising - OCTOBER 5, 2021

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Harrison Street raises the largest closed-end fund in firm’s history

by Kali Persall

Harrison Street has wrapped up fundraising for its eighth U.S. opportunistic real estate fund, Harrison Street Real Estate Partners VIII.

The fund reached its hard cap of $2 billion, exceeding its $1.5 billion fundraising target. Harrison Street raised an additional $510 million in co-investment vehicles to invest alongside Fund VIII for a total of $2.5 billion of equity raised, and total buying capacity of more than $8 billion.

The fund was backed primarily by existing investors, representing 75 percent of commitments. New institutional investors from around the globe also participated in the capital raise.

“The closing of Fund VIII, the largest closed-end fund in our firm’s history, amid a black swan event, is a testament to the resiliency of our asset classes, the strength of our investment platform, and confidence placed in us by our global investors, both existing and new,” said Christopher Merrill, co-founder, chairman and CEO of Harrison Street. “

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