PTM Partners closes second opportunity zone fund

PTM Partners has closed its second qualified opportunity zone fund, PTM Partners Opportunity Zone Fund II (PTM OZF II), with $150 million of capital for development projects across the United States.

This fundraise exceeds the firm’s first fund in the series, which PTM closed in 2019 with $100 million of capital commitments.

“When we launched Fund II in late 2020, we wanted to continue our company’s mission to deliver and foster sustainable and inclusionary projects that generate positive returns not just for our investors and partners, but also for the surrounding community and its stakeholders,” said Michael Tillman, co-founder and CEO of PTM.

With PTM OZF II, the firm has invested in several developing projects, including a mixed-use campus-like development in Edgewater, Miami, and a 318-unit multifamily development on the Occoquan River in Woodbridge, Va. PTM said each of its six existing projects and $2 billion development pipeline demonstrate its c