Pennybacker Capital captures $447m for sixth fund
Pennybacker Capital has secured more than $447 million for its recently launched Pennybacker VI fund, according to a recent filing with the SEC.
Pennybacker VI will invest in various property types in the United States.
The investment vehicle has a fundraising target of $2 billion.
The fund’s predecessor, Pennybacker V, targeted middle-market real estate in cities across the United States with a high growth outlook. The value-add fund had an initial target of $600 million, which it surpassed in 2019.
For more information about this commitment or other funds, please visit our IREI.Q database.