Fundraising - MARCH 8, 2018

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Pennybacker IV closes at $510m

by Jody Barhanovich

Pennybacker Capital has held a $510 million final close for Pennybacker IV, exceeding its $400 million target.

The fund is a continuation of Pennybacker Capital’s investment approach in using a thematic, data-driven process to pursue under-valued middle-market real estate assets in the U.S. Sun Belt.

The fund’s investor base comprises public and private pension funds, endowments, foundations, asset managers, family offices, and high-net-worth individuals.

The fund’s predecessor, Pennybacker III, closed with $322 million in total equity commitments.



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