NorthBridge raises $500m for third US logistics real estate fund | News
NorthBridge Partners raised $ 500 million for its third U.S. logistics real estate fund and met its hard-cap fundraising goal.
The manager said the NB Partners Fund III fund has been backed by investors such as public and private annuities, foundations, asset managers, family offices and high net worth individuals.
IPE Real Assets reported in January that by that time the fund had raised $ 300 million for the fund.
Fund III’s strategy is a continuation of the previous two vehicles, which target strategically located industrial assets on the U.S. east coast that are critical to the modern e-commerce supply chain as companies compete for the shortest delivery times for consumers. said the manager.
Park Madison Partners’ Rob Kohn, who acted as facilitator for fundraising, said, “We launched this fund in March 2020 when the pandemic broke out, and as a result, fundraising efforts have shifted to an almost entirely virtual format.
“The success despite this challenge is testament to NorthBridge’s talent as an investment manager in the industrial sector of the last mile and the confidence investors have in her as trustees.”
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