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Sign in Sign up for a FREE subscriptionMichigan pension fund commits to TerraCap Partners V
Macomb County (Mich.) Retirement System has approved a commitment of $18 million to TerraCap Partners V, a value-add property fund managed by TerraCap Management.
The fund opened to investors in March. Like its predecessors in the fund series, TerraCap Partners V is expected to invest across the real estate spectrum, in sectors such as CBD office, hotel, industrial, mixed-use and multifamily.
Targeting $400 million in capital commitments, Fund V would be the firm’s largest real estate fund to date if it reaches its target. With leverage, the vehicle aims to have approximately $1.2 billion of buying power.
