Pennybacker Capital Management, a real assets investment manager, announced the final closing of its sixth value opportunity series fund, Pennybacker VI, LP (Fund VI), which exceeded the target with $1.6 billion in capital commitments.
Fund VI received strong support from its existing investor base and attracted numerous first-time commitments from leading institutional investors. And Fund VI seeks to invest in U.S. real estate assets across equity and debt opportunities.
KEY QUOTES:
“The continued growth of our value opportunity fund series is a testament to the partnerships we have forged and our track record as a real estate investor. We are excited to put Fund VI commitments to work given the backdrop of dislocation across real estate capital markets and our deep experience finding and creating value during turbulent times. Our ability to execute across the capital spectrum, property sectors, and U.S. regions presents what we believe to be a compelling risk-adjusted opportunity for our investors.”
- Tim Berry, founder, CEO, and Co-Chief Investment Officer of Pennybacker
“We are grateful for the continued support from our existing investors and welcome many new relationships to Pennybacker. The commitment to Fund VI in a challenging fundraising environment validates the trust we have built and performance we have delivered across cycles.”
- Andrew Knox, Managing Director and Head of Capital Formation of Pennybacker
