Alternative investment firm EBF & Associates has closed its value and real asset opportunities fund, Merced Partners III L.P., with $567 million. The fund tops the firm’s previous fund, which closed in 2007 with $474 million. Based in Minnetonka, Minn., EBF currently manages $1.8 billion in capital.
EBF & Associates, L.P., a leading alternative investment firm, today announced the closing of Merced Partners III, L.P., a $567 million value and real asset opportunities fund. The fund is a six-year lock-up vehicle and is the successor to Merced Partners II, L.P., a similar $474 million fund organized in 2007. Limited partners investing in Merced III include endowments, foundations, state and corporate pension plans, and family offices, as well as significant general partner investment. EBF currently manages $1.8 billion in capital.
Merced III seeks to generate superior risk-adjusted returns, without using leverage, with the same opportunistic value and real asset investment strategies successfully utilized in Merced II. Merced III plans to focus on areas where EBF has significant expertise, including insurance, equipment, real estate and corporate debt and equity. The fund will target medium-size opportunities, generally ranging from $10 million to $50 million.
“We are pleased that interest in Merced III was strong in a challenging fundraising environment,” said David Ericson, Managing Partner, EBF & Associates. ”We appreciate the confidence that our limited partners have shown in the EBF team and in our unique investment strategies. We will continue to target niche sectors with a contrarian mentality.”
About EBF & Associates
Founded in 1988, EBF & Associates is a privately-held registered investment advisor specializing in alternative investment strategies. The firm currently has $1.8 billion in capital under management. Based in Minnetonka, Minnesota, EBF has a leadership team averaging over two decades of innovative investing experience. More information about EBF can be found at www.ebf.com.