Fundraising - JUNE 20, 2022

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Pennybacker Capital captures $447m for sixth fund

by Kali Persall

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.

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