SAN FRANCISCO, May 3, 2024 — Stockbridge is pleased to announce the final close of the fifth fund (the “Fund”) within its closed-end value-add series for $709 million in capital commitments. The final close, held on April 19, 2024, marks the largest capital raise in the fund series’ history.
“Despite the current challenges of both the economic and capital raising environments, we are extremely pleased with the record-breaking final close of our fifth value-add fund,” said Doug Sturiale, Portfolio Manager for the fund series. “With the fifth fund, we will continue to execute the time-tested strategies we have put into practice throughout the life of the series employing our extensive experience navigating the real estate cycle, and we are grateful for the ongoing trust our investors have within the series as well as Stockbridge.”
The Fund was launched in April 2023 and will follow investment strategies similar to predecessor funds within the series, with the pursuit of strategic value-add opportunities in today’s unique market environment. The Fund will seek to identify real estate investments that Stockbridge believes are undervalued, underutilized or otherwise not operating to full potential to capitalize on opportunities presented by the current economy. These investments present the opportunity to add value through active management strategies that include additional capital investment, leasing, recapitalization, light renovation, or development.
The first fund of the value-add series held its final close in June 2012 with $218 million in capital commitments. Since then, the fund series closed its second, third and fourth funds, for $321 million, $355 million, and $562 million, respectively. The fourth fund’s investment period ended at the beginning of the second quarter of 2023.
About Stockbridge
Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-add and opportunistic strategies. Stockbridge and its affiliates have approximately $33.4 billion of assets under management spanning all major real estate property types and certain specialty property types throughout the United States.
SOURCE Stockbridge Capital Group
