Liquid Realty Partners has closed its fourth real estate secondaries fund with $572.3 million in capital commitments. Get more info.
Liquid Realty Partners, the global leader in providing liquidity to limited partners of private real estate funds, partnerships and trusts on a secondary basis, announced today the closing of Liquid Realty Partners IV, L.P. (“LRP IV”), which exceeded its original $400 million fundraising target by accepting capital commitments of $572.3 million. LRP IV is Liquid Realty's fourth fund, and the largest discretionary real estate secondaries fund raised to date. In the past 24 months, the San Francisco-based real estate secondary specialist has committed over $1 billion in equity to global investments in indirect real estate vehicles.
“The closing of LRP IV underscores Liquid Realty's success in providing liquidity to real estate private equity limited partners, enabling them to effectively and efficiently manage their indirect real estate holdings,” said Scott Landress, Managing Principal and Chief Executive Officer. “We believe Liquid Realty's capital resources will be a great benefit to real estate LPs seeking to manage their portfolios in this market cycle.”
Overseen by managing principals Scott Landress and Jeff Giller, the new fund will invest in all types of real estate funds, partnerships and trusts globally. More than half of Liquid Realty's past investments were located outside of the United States, including a European portfolio investment that was the largest real estate secondary transaction to date.
“In the past two years, Liquid Realty has fully invested two funds and led the real estate private equity secondaries market in transaction volume,” said Jeff Giller, Managing Principal and Chief Investment Officer. “With LRP IV closed, we plan to continue to execute innovative secondary real estate investments of all sizes, types and complexities throughout the global markets.”
Liquid Realty accepted commitments for LRP IV from 39 legacy and new investors. Over 70% of investors in Liquid Realty's third fund made follow-on commitments to LRP IV. The firm's limited partners include pension plans, endowments and foundations.
Founded in 2001, Liquid Realty has acquired real estate fund, partnership and trust interests valued at over $1.2 billion. Its transactions have included limited partner sales of global real estate fund interests, joint venture investments, property co-investments, and select primary real estate fund investments.
About Liquid Realty
Liquid Realty Partners (www.LiquidRealty.com), the real estate secondaries firm, is the largest and the only dedicated buyer of real estate private equity interests on a secondary basis. Liquid Realty specializes in acquiring interests in real estate private equity funds, partnerships and trusts worldwide. Liquid Realty's managing principals, Scott Landress and Jeff Giller, are real estate investment and finance veterans supported by an experienced team of trained professionals. The firm transacts directly with institutional limited partners, works with brokers and finders, and invests alongside private equity secondary investors. Liquid Realty's investments range from small, single-fund interests, to large, multi-fund portfolios; span all global markets; include unfunded and primary commitments; and encompass core, core-plus, value-added and opportunistic investment vehicles.