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Liquid Realty's Fourth Fund Its Largest Yet

SAN FRANCISCO-The sponsor of funds that invest in real estate-related ventures on a secondary basis garners $572.3 million in capital commitments for its newest vehicle.

By Brian K. Miller | Updated on December 13, 2007

SAN FRANCISCO-Liquid Realty Partners says it has closed fundraising for its fourth investment vehicle with $572.3 million. The total is 40% more than its original goal and the most commitments ever garnered for a private equity real estate secondaries fund, which acquires the interests of existing funds, partnerships and trusts by replacing one of the original investors.

Overseen by managing principals Scott Landress and Jeff Giller, the new fund will invest in all types of real estate funds, partnerships and trusts globally. More than half of Liquid Realty’s past investments were located outside of the United States, including a European portfolio investment that was the largest real estate secondary transaction to date.

Over the past two years, Liquid Realty says its funds have placed more than $1 billion in equity, fully invested two funds and is leading the real estate private equity secondaries market in transaction volume. The latest fund was funded by 39 investors, more than 70% of which also invested in the third fund. Fund investors include pension plans, endowments and foundations.

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