True North closes third real estate fund at $548 mln

True North Management Group has closed its third real estate fund at $548 million. The limited partners of True North Real Estate Fund III LP include pension programs, endowments, foundations and high-net worth family offices. Atlantic Pacific Capital served as placement agent.

PRESS RELEASE

NEW YORK & LONDON & HONG KONG–(BUSINESS WIRE)–Atlantic‐Pacific Capital, the largest privately‐owned global placement agent and advisory firm, announced the final closing of True North Real Estate Fund III, L.P. (the “Fund”) with $548 million of capital commitments, surpassing its prior fund size.

The Fund, managed by True North Management Group, LLC (“True North” or the “Firm”) received strong support from a broad group of consultants and institutional investors, including pension programs, endowments, foundations, and high‐net‐worth family offices.

Founded in 2004 by Richard Gunthel and Paul Turovsky, True North is a privately-held real estate investment management firm headquartered in White Plains, New York. The Firm has successfully completed more than 65 distinct debt and equity investments with more than $1 billion in transaction value involving office, retail, hospitality, multifamily and other property types throughout the United States.

“We are pleased to have partnered with True North for the raising of its third fund,” commented Victor Manuel, Partner at Atlantic‐Pacific. Brendan Edmonds, Partner at Atlantic‐Pacific, added, “We believe True North is one of the strongest teams investing in opportunistic commercial real estate, and we wish them continued success as they deploy their new fund.”

About True North Management Group, LLC (www.tninvestors.com)
True North is a private real estate investment management firm that focuses on capitalizing on opportunities in a cyclical and dynamic environment. The investment team seeks to use its extensive experience and wide-ranging knowledge base to generate both high quality risk-adjusted and absolute returns.

About Atlantic‐Pacific Capital, Inc. (www.apcap.com), Member FINRA and SIPC
Atlantic-Pacific Capital is the largest privately-owned global placement agent and advisory firm dedicated to raising capital for alternative investments. Since its founding in 1995, the firm has executed more than 80 capital raising assignments aggregating over $60 billion for an extraordinary group of alternative asset managers. Typical mandates include private equity, real estate, real assets, natural resources and infrastructure fund placements. Atlantic-Pacific provides global marketing distribution and project management execution using a focused and customized approach. With experienced professionals located in eight offices throughout the United States and in London and Hong Kong, Atlantic-Pacific maintains a global network of trusted relationships with influential institutional investors.