Prescott Group, a diversified, vertically integrated real estate investment, debt resolution and asset management firm, has closed its first private equity fund vehicle, Prescott Strategies Fund I, which will invest opportunistically in distressed and value-add properties throughout the United States.
The fund, which closed fundraising on Oct. 31 with a combined general partner and limited partner commitment amount of $63.4 million, will invest from both a debt and equity position.
PSFI received commitments from a diverse group of 17 investors, including private pension plans, wealth managers, family offices and accredited individuals. The fund’s investors are located throughout the United States and abroad.
The fund was 40 percent deployed into 12 investments at closing.
“The closing of Prescott Strategies Fund I marks the first of what the firm hopes to be a succession of follow-on funds,” said Jud Pankey, founder and CEO of Prescott Group, in a s
