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Laxman Pai, Opalesque Asia: US-based alternative asset manager Fundamental Advisors has surged past its $1bn target for its fourth flagship private equity fund to hold the final close with $1.43 billion in capital commitments.
The investment company dedicated to municipal and public purpose investing said in a press release that the fund's - Fundamental Partners IV - total commitments significantly exceeded its original target of $1 billion.
The fund received support from a majority of existing investors along with a diverse group of new investors including state pension plans, insurance companies, university endowments, and private wealth platforms, it said.
Laurence L. Gottlieb, Chairman, and CEO of Fundamental said: "The successful raise of our largest fund to date is an extraordinary milestone in our firm's 15-year history, and a testament to our talented team and growing reputation for achieving attractive risk-adjusted performance while protecting our partners' capital. Our flexible capital and adaptive investment strategies position us well to successfully navigate an ever-changing investing landscape."
According to the release, Fund IV will continue Fundamental's strategy of employing both private equity-style control and high-yielding private credit practices to invest in essential community assets, such as affordable and workforce housing, renewable energy, senior care, and infrastructure.
"The fund will benefit from Fundamental&...................... To view our full article Click here
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