Elion Partners has raised $500 million for its latest value-added logistics fund, Elion Real Estate Fund V.
The fund targets logistics real estate assets in core infill U.S. coastal markets.
Elion Partners said the fund represents the firm’s first institutional industrial fund and is one of the only funds sponsored by a diverse ownership team.
”The fund achieved its hard cap of $500 million through commitments from Vintage Funds within Goldman Sachs Asset Management, Wells Fargo Bank N.A., Belay Investment Group, BGO Strategic Capital Partners, Artemis MWBE Spruce Program, Portfolio Advisors, and other U.S. institutional investors and family offices,” said the company in a press release.
“Our relationship and data-driven approach to sourcing opportunities early has enabled us to remain active throughout the pandemic, deploying approximately 60% of the fund’s commitments across 21 assets to date,” said Juan DeAngulo, Managing Partner of Elion. “We look forward to investing the remainder of the fund utilizing our pipeline of opportunities.”
“As an emerging and diverse manager, the successful fundraise of our latest closed-end vehicle represents an important milestone in the institutional growth of Elion’s platform,” said Lindsey Sugar, Senior Managing Director of Capital Markets. “We are grateful for the confidence entrusted in Elion by our new institutional capital partners and appreciate the continued support from our existing investors who have been investing with Elion for a decade.”
