Marble Capital, a Houston-based investment manager focused on multifamily developments, has raised $225 million in a second closing of its Marble Capital Fund III fund.
Marble Capital Fund III is a fully discretionary investment fund primarily focused on providing preferred equity for ground-up multifamily developments in high-growth markets across the country.
The fund opened to investors in late July 2020 with a fundraising target of $350 million. It has attracted a mix of investors, including high-net-worth individuals, family offices and institutions, according to a spokesperson for Marble Capital.
Marble Capital raised $250 million for the fund’s predecessor, Marble Capital Fund II, in 2019, exceeding its initial target of $150 million. Previously, the first fund in the series closed in 2017 with $100 million in capital commitments.
