Philadelphia-based BPG Properties has closed its latest fund on more than $850 million (€619 million). The new fund, BPGPartnership VIII, will invest in the office, multi-family, industrial and retail sectors in the US.
“BPG's investment strategy for Fund VIII will mirror the successful strategy we employed for our seven prior funds,” Arthur Pasquarella, executive vice president and chief operating officer of the firm, said in a statement. “We will continue to seek investments in which we add value through an intense direct operating platform.”
According to Daniel DiLella, the president and chief executive officer at BPG, more than 90 percent of previous limited partners returned to the fund—and some new investors had to be turned away. Investors in the fund include public and corporate pensions, endowments, foundations, family trusts andinstitutions, according to the firm.
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