Savanna Investment Closes $313M Fund

[IMGCAP(1)]NEW YORK CITY-Locally based Savanna Investment Management LLC has closed Savanna Real Estate Fund I, a $313-million opportunistic real estate private equity fund. Savanna anticipates the fund will acquire approximately $1 billion in new investment and development opportunities.

The fund’s limited partners include a broad cross section of prestigious domestic and international institutional investors, including private and public pension funds, insurance companies, banks, foundations, asset/wealth management companies and endowments. “We are delighted with the confidence our limited partners have demonstrated in the successful closing of this fund,” notes Chris Schlank, one of the managing partners, in a prepared statement. “Savanna’s direct operating and execution platform combined with a substantial pool of institutional capital will help us to secure the kinds of compelling opportunities that we believe will deliver extremely attractive risk-adjusted returns to our investors. We feel that we are well positioned to capitalize on market opportunities given the current capital markets dislocation.”