WCP raises $250m for fourth fund
Connecticut-based Westport Capital Partners has raised $250 million for its WCP Real Estate Fund IV, bringing the fund halfway to its $500 million fundraising goal, according to IREI’s FundTracker Database.
The noncore fund, which has a $750 million hard cap, targets a 15 percent return by acquiring assets with upside potential across property types. The fund will primarily invest in the United States, though up to 20 percent of its capital can be invested in Western Europe.
A final close is expected on June 5, 2015, and one intermediate close is expected prior.
Westport Capital Partners declined to comment.
WCP Real Estate Fund III had a $571 million final close in February 2012, and Fund II had a $310 million final close in February 2009.