Sculptor Capital Management has closed its fifth opportunistic equity real estate fund with $4.6 billion in commitments, surpassing its original $3 billion target and reaching its hard cap. The firm also raised an additional $825 million in co-investment capital, enabling participating investors to commit alongside its flagship vehicle. The close marks one of the most significant capital raises in Sculptor’s real estate platform and reflects strong backing from both new and existing institutional LPs across global markets.
The new fund expands Sculptor’s real estate strategies, which include opportunistic credit and core plus real estate investment approaches. Together, these strategies enable the firm to source, structure, and execute transactions across a wide range of property sectors. Fund V will pursue value-based, situationally opportunistic assets and aims to deliver compelling risk-adjusted returns by leveraging Sculptor’s specialized experience across 30 distinct real estate categories, including hospitality, gaming, digital infrastructure, logistics, cold storage, healthcare, and leisure.
The announcement highlights the continued role of Sculptor Real Estate within the broader Sculptor Capital platform, which manages approximately $37 billion in assets. Since launching its real estate business in 2003, the firm has completed more than 220 transactions representing over $27 billion in total enterprise value, spanning a diverse set of equity, loan, and structured investment types.
The latest fundraise builds upon Sculptor’s long-tenured real estate team and its track record of identifying opportunities that offer durable income, reduced macro correlation, and lower volatility. With meaningful investor participation and rising demand for real estate strategies that emphasize selective risk and current yield, the firm intends to deploy capital into what it views as a favorable environment for opportunistic deals.
KEY QUOTES
“For more than 20 years, we have shown that our expertise and experience investing in non-traditional real estate provides attractive income and total returns with less macro correlation and lower volatility. Our broad sector diversification, long-tenured team, and disciplined investment approach have uniquely positioned us to identify and capitalize on the exciting opportunities that exist and deliver consistent, risk-adjusted returns to our investors.”
Steven Orbuch, Founder and President of Sculptor Real Estate
“We are extremely grateful for our investors’ continued support of our strategy and look forward to continuing to focus on generating opportunistic returns with modest leverage and attractive current cash yields.”
Nicholas Hecker, Chief Investment Officer of Sculptor Real Estate
