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Pennybacker markets fourth real estate fund

by Andrea Waitrovich

Pennybacker Capital has a fourth fund in the market, according to an SEC filing. The fund, Pennybacker IV, has raised approximately $202.73 million of its $450 million targeting goal. Pennybacker IV will invest across property types, with a value-added strategy and an emphasis on Texas. The fund’s predecessor, Pennybacker III, closed in 2015 with $322 million in equity commitments.

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