Stockbridge announced the final closing of the fifth fund within its closed-end value-add series for $709 million in capital commitments. The final closing marks the largest capital raise in the fund series’ history.
This fund was launched in April 2023 and will follow investment strategies similar to predecessor funds within the series, pursuing strategic value-added opportunities in the unique market environment.
This fund will seek to identify real estate investments that Stockbridge believes are undervalued or not operating to their full potential to capitalize on opportunities presented by the current economy. These investments present the opportunity to add value through active management strategies, including additional capital investment, leasing, recapitalization, light renovation, or development.
This first fund of the value-add series closed in June 2012 with $218 million in capital commitments. Since then, the fund series has closed its second, third, and fourth funds for $321 million, $355 million, and $562 million, respectively, and the fourth fund’s investment period ended at the start of the second quarter of 2023.
KEY QUOTE:
“Despite the current challenges of both the economic and capital raising environments, we are extremely pleased with the record-breaking final close of our fifth value-add fund. With the fifth fund, we will continue to execute the time-tested strategies we have put into practice throughout the life of the series employing our extensive experience navigating the real estate cycle, and we are grateful for the ongoing trust our investors have within the series as well as Stockbridge.”
– Doug Sturiale, Portfolio Manager for the fund series
