Belveron Closes Seventh Real Estate Fund at $354M

Belveron Partners announced the closing of its oversubscribed Flagship Fund VII with $345M in capital commitments, exceeding its $350M target and making it the largest fund raised by the firm.

Beveron said Fund VII expanded the investor base of prior funds, including a sovereign wealth fund, pension fund, university endowment, family offices, and OCIOs amongst its new investors. As reported by Dakota, the Rhode Island State Pension in June made a $20M investment in the fund, which aims to create, preserve, and revitalize affordable housing units and advance solutions to resolve affordability crises.

Fund VII has deployed approximately $120M of equity across nine affordable housing investments. Overall, Belveron has raised $1.2B in aggregate capital commitments from its seven funds and related joint ventures.

Source: https://www.prnewswire.com/news-releases/belveron-partners-closes-seventh-real-estate-fund-with-354-million-in-capital-commitments-302311422.html