The real estate fund, managed by Shamrock Capital Advisors, has invested in projects ranging from office, retail and industrial space in the Los Angeles area to condominiums in Venice, Calif. and upcoming developments. Among the lattter is SunQuest, a former landfill in the northern San Fernando Valley that will become light industrial space.

The most recently closed Genesis fund is called Fulcrum Capital Partners Growth Capital Fund, which "is dedicated to providing expansion and buyout capital to growing companies owned or managed by minority entrepreneurs," according to a Genesis announcement. The fund, whose initial investors include Wells Fargo, Washington Mutual, Citigroup and MBNA, expects to commit in excess of $40 million in capital commitments by its final closing later this year.

Genesis LA CEO Marci Wiseman says the organization focuses on "structuring deals that make economic sense, rather than handing out cash that doesn't get put to work."