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Alternative Market Briefing

GI Partners raises $1.45bn for fund targeting data centers, life sciences

Wednesday, April 06, 2022

Laxman Pai, Opalesque Asia:

GI Partners, a private investment firm with 20-plus years of investing in technology and healthcare real estate, has lined up $1.4 billion in commitments for its initial fundraising round for its latest investment vehicle, the GI Real Estate Essential Tech + Science Fund (ETS Fund).

The initial fundraise period for the firm's first commingled real estate fund surpassed expectations, exceeding the hard cap with total commitments reaching $1.45 billion and representing one of the largest initial raises for an open-end real estate fund in recent years.

The fund's investors come from across the spectrum of institutional capital, from public and private pension funds to investment banks, GI said in its announcement. Private equity investors from the U.S., Canada, and Europe also bought into the ETS Fund, GI's first that targets more than one asset class.

Since launching last year, the ETS Fund has already acquired eight properties in the most sought-after life sciences markets in the country: Boston, the North Carolina Research Triangle, Philadelphia, and the San Francisco Bay Area, where GI Partners is based. It purchased 3701 Market St. in Philadelphia, a 131K SF building on the city's main life sciences corridor, in June for $79M, or $567 per SF.

John Sheputis, Managing Director of GI Partners and Head of the ETS Fund, said, "GI Partners has been investing in tech and science real estate for over 20 years, and that expe......................

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