Whitman Peterson exceeds target, raises $692m

California-based real estate investment firm Whitman Peterson has completed the final close of its fourth opportunistic real estate fund with $692 million in commitments to continue its GP-capital focused investment strategy.

Whitman Peterson originally targeted $500 million and expanded the fund size due to stronger than originally expected volume of attractive investment opportunities. Investors in the fund included private and public pensions, insurance companies, foundations, endowments and multifamily offices.

The fund targets sectors with strong secular tailwinds including industrial, rental housing (active adult, short-term rentals, student housing) and outdoor lodging with a small allocation to distressed sectors, including senior housing and lodging. The fund continues Whitman Peterson’s strategy of providing asset-level GP capital on a programmatic basis with some of the country’s leading national platforms in its target sectors, while also opportunistica