Loci Capital exceeds target for first close

Loci Fund II GP, an affiliate of Loci Capital Group, a private real estate fund manager, announced the first close of Loci Capital Opportunistic Fund II.

The first close includes more than $53 million in subscriptions, more than double Loci’s first close target of $25 million and greater than the total size of the predecessor fund.

Fund II includes Loci’s first institutional investor as well as high-net-worth individuals, single- and multifamily offices, RIAs, and wealth management firms.

Loci’s funds have a hybrid-GP fund structure, allowing fund investors the ability to share in the fees earned by Loci from third-party joint venture partners while maintaining diversification lacking in traditional GP funds.

“The support our investor base has shown us in a difficult capital markets environment is a direct result of the team’s historical outperformance as well as the robust pipeline of opportunities we have access to,” said Casey Wilson, manag