Asana Partners raises $1.5bn to reposition mixed-use real estate
By Richard Lowe 16 MARCH 2022
Asana Partners has raised $1.5bn (€1.37bn) for its latest value-add real estate fund focused on repositioning mixed-use assets in the US.
The US real estate investment manager said Asana Partners Fund III hit its hard cap and was oversubscribed within six months of marketing.
Asana Partners, founded seven years ago by three retail specialists, has been expanding at a time when many real estate investors have shunned the retail sector.
Asana Partners said the latest limited partners included a “diverse group of institutional investors” from North America, Europe, and Asia-Pacific.
Maryland State Retirement and Pension System was one of the most recent investors to join the fund, committing $100m.
Terry Brown, managing partner and co-founder of Asana Partners, said: “We are grateful for the confidence and support of our existing investors and are excited to formalise partnerships with a number of new investors.”
Link to article here.