NB Partners Fund IV, a value-add fund managed by NorthBridge Partners, has secured more than $417 million, according to a recent filing with the SEC.
NorthBridge launched its logistics strategy in 2014 to acquire, modernize and develop small and mid-sized last-mile logistics assets on the East Coast. The focus is on locations that are key to supply-chain routes, as companies compete for the shortest delivery times to consumers.
In April 2021, NorthBridge Partners and Park Madison Partners closed the NB Partners Fund III at its $500 million hard cap. The logistics fund was backed by a mixture of public and private pension funds, foundations, asset managers, family offices, and high-net-worth individuals.
The equity fundraising target for Fund IV is said to be $800 million.
