Velocis nears March 29 final close
Dallas-based firm Velocis Partners plans to hold a final close for its debut core-plus Velocis Fund Fund on March 29. The vehicle has raised an additional $40 million in capital commitments since December. The recent commitments give the commercial real estate fund more than $197 million of assets under management. The fund launched in 2010 with a $150 million fundraising goal. The firm expects the fund to raise another several million dollars before the final closing.
“We are pleased with Velocis Fund’s performance to date and are focusing our attention on the pending final close, as well as sourcing new acquisitions,” said Fred Hamm, Velocis managing principal, in a statement. “Our recent mark-to-market numbers (unaudited) show an anticipated increase in portfolio value of over 15 percent and an increase in equity value of over 30 percent. Since all new investors come in at par, they