Perennial Capital Advisors launches next real estate fund

Perennial Capital Advisors, an independent investment management firm based in Boston, has put its next real estate fund on the market, according to a filing with the SEC. The firm did not comment on its fundraising efforts.

A fundraising target was not disclosed in the filing.

The new fund, Perennial Real Estate Fund IV, is a closed-end fund of funds. Perennial Capital Advisors invests exclusively in real estate and tends to invest with value-added and opportunistic managers. The firm also invests in debt and equity strategies across a variety of private real estate strategies.

The predecessor funds in the series include Perennial Real Estate Fund III, which opened in 2015, and Perennial Real Estate Fund II.