Portfolio Advisors announced Wednesday the final close its fourth real estate fund-of-funds with $400 million in total commitments. Portfolio Advisors Real Estate Fund IV has been making commitments to primary funds and purchasing direct secondary fund interests since its initial closing in 2009, the firm said. Portfolio Advisors’s prior fund, PAREF III, raised $147 million in 2008.
Portfolio Advisors, LLC (“PA”) announces the final closing of its fourth global diversified
real estate fund-of-funds, Portfolio Advisors Real Estate Fund IV (“PAREF IV” or the “Fund”),
with total commitments of $400 million. Limited partners include private and public pension
plans, private endowments and foundations, family offices and high net worth individuals. More
than 80% of the total limited partner commitments to the Fund came from investors who had
previously invested in one or more PA-sponsored vehicles.
“We are very pleased with the trust and support our investors have given us and we believe this
is an opportune time to invest in value-added real estate funds and secondary acquisitions,” said
Kenneth Wisdom, Managing Director and Head of Portfolio Advisors Real Estate Group.
The structure of PAREF IV permitted each limited partner to customize its commitment by
selecting desired sector allocations and proportions of real estate exposure from among four
principal strategy choices—Globally Diversified Real Estate, US Real Estate only, Non-
US Real Estate only and Real Estate Secondaries only. All geographic sectors will include up
to 20% opportunistic secondary market purchases, while the Secondaries sector will consist
solely of secondary market purchases.
PAREF IV has been making commitments to primary funds and purchasing direct secondary
fund interests since its initial closing in 2009.
The firm’s previous global real estate fund, PAREF III, closed with $147 million of commitments
Portfolio Advisors, LLC is an independent, employee-owned firm that provides a full range of
private real estate and private equity investment advisory and portfolio management services to
sophisticated investors in North America, Europe and Asia.