Phoenix Capital Partners Fund IX holds final close
Phoenix Capital Partners Fund IX, managed by Phoenix Capital Partners, has raised $283 million in a final close, a spokesperson for the Dallas-based firm confirmed in an email.
Investors included a mixture of institutions, family offices and high-net-worth individuals.
The investment vehicle, which targets multifamily development joint ventures, surpassed its fundraising target of $275 million in equity commitments. As of November 2019, the fund had raised $231 million, according to an SEC filing. The final close was completed in February.
Phoenix’s latest fundraise is consistent with capitalizations of other vehicles in the fund series. The fund’s direct predecessor, Phoenix Real Estate Fund VIII, raised $225 million in 2017, and Phoenix Real Estate Fund VII held a $150 million final close in 2016.
According to the spokesperson, Fund IX is already 20 pe