London-based real estate investment firm Castleforge Partners has today announced the close of its third commercial fund at over £270m.
Castleforge Partners III exceeded its predecessor by 15 per cent, even in the face of looming Brexit uncertainty and the global coronavirus pandemic. The investment fund received support from existing investors, with around 60 per cent of capital from long-standing partners.
It also secured new commitments from institutional investors in North America, Europe and Latin America, including a private pension fund, endowment, foundation and family offices.
Co-founder Brandon Hollihan said: “We are greatly appreciative of our investors, old and new, for their support and partnership. It is an exciting time for Castleforge Partners, and we believe we are well positioned to access new opportunities and grow our business, whilst also supporting the communities in which we invest.”
Castleforge was founded a decade ago and since then has closed 40 deals and realised 17.
Atlantic-Pacific Capital served as the exclusive global placement agent.
Alex Hurst, Partner at Atlantic-Pacific, said: “We are pleased to close CFP III with commitments in excess of the predecessor vehicle despite headwinds in the capital markets resulting from a trilogy of events incorporating Brexit, a snap election and a global pandemic. We have enjoyed the second collaboration with Castleforge Partners and expect their focus on risk management and the unremitting evolution of their platform will serve investors well.”