Texas-based Stonelake Capital Partners has raised $555 million for its sixth opportunistic real estate fund, Stonelake Opportunity Partners VI.
Stonelake exceeded its $500 million target fundraise and closed at its hard cap. The commitments consist of $545 million from institutional investors and $10 million from Stonelake, as the general partner.
Stonelake VI is pursuing real estate investments in Texas and select Sunbelt markets, with a primary focus on industrial warehouses, class A multifamily and class A offices located in walkable environments. Stonelake has already committed more than 60 percent of Stonelake VI’s equity commitments across eight separate investments.
“Over the last 15-months, Stonelake aggressively invested to take advantage of opportunities created from the short-term dislocation in the capital markets created by the pandemic,” said Kenneth Aboussie, managing partner for Stonelake. “This has positioned Stonelake VI to generate att
