ElmTree Funds Announces Closing of Largest Commingled Fund to Date
Firm raises $888 million of investor commitments
ST. LOUIS, Oct. 13, 2021 /PRNewswire/ — ElmTree Funds, LLC (“ElmTree”) today announced the closing of its largest commingled fund to date, ElmTree U.S. Net Lease Fund IV, L.P. (“Fund IV”). The fundraising effort for Fund IV, led by Annie Hsieh, head of Capital Formation at ElmTree, did not include a private placement agent for the marketing process, and ElmTree nevertheless exceeded Fund IV’s original hard cap of $800 million with $888 million of investor commitments. Fund IV has approximately $2.5 billion in immediate investment capacity, of which approximately $800 million has been committed and deployed. ElmTree believes the successful close of Fund IV demonstrates steadfast support from its previous investors in ElmTree managed funds as well as significant demand from new investors. The Fund’s investor base is comprised of leading public and private pension plans, insurance companies, endowments, and foundations. Fund IV targets investments in industrial and logistics assets across the United States.
Over the past year, ElmTree has deployed in excess of $4 billion and acquired and put under contract 47 properties, totaling more than 16.5 million square feet. ElmTree’s investments across the United States have targeted strategically located markets with what ElmTree believes have strong market leasing fundamentals, positive demographic trends, and superior accessibility to major transportation hubs.