Liquid Realty Partners raises $572M fund for real estate

Liquid Realty Partners, a San Francisco firm focused on acquiring real estate funds, partnerships and interests in the secondary market, said Thursday that it raised $572.3 million in its fourth fund.

The fundraising exceeded its original target of $400 million, suggesting strong demand for real estate investing among institutional investors. More than 70 percent of the investors in the firm's third fund participated in its latest fund.

The new fund will be overseen by Scott Landress and Jeff Giller, both managing principals.

Liquid Realty said it is the largest discretionary real estate secondaries fund ever raised.

Over the past 24 months, the firm has committed more than $1 billion in equity to interests in real estate funds and partnerships. The firm gives big investors, or so-called limited partners, investing in these funds and partnerships a way to cash in on their investment early, giving them greater flexibility when investing in the traditionally illiquid asset class of real estate.

"The closing of LRP IV underscores Liquid Realty's success in providing liquidity to real estate private equity limited partners, enabling them to effectively and efficiently manage their indirect real estate holdings," said Landress, who is also Liquid Realty's CEO. Managing Principal and Chief Executive Officer. "We believe Liquid Realty's capital resources will be a great benefit to real estate limited partners seeking to manage their portfolios in this market cycle."

Liquid Realty, founded in 2001, has acquired real estate fund, partnership and trust interests valued at more than $1.2 billion. The firm's transactions have included limited partner sales of global real estate fund interests, joint venture investments, property co-investments, and select primary real estate fund investments.

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source: bizjournals.com