GI Partners Closes $1.45B for CRE Tech + Science Fund
The initial raise for the firm's new fund was one of the largest for an open-end real estate fund in recent years.
GI Partners’ the Real Estate Essential Tech + Science Fund has drawn great interest from investors wanting in on data center properties, life sciences buildings, and “always on” research & development facilities within the office and industrial sectors.
This week, it announced the conclusion of its initial fundraising periods, which represents one of the largest initial raises for an open-end real estate fund in recent years, according to its release.
Since launching in 2021, the fund has acquired eight properties in key growth markets, including the San Francisco Bay Area; the greater Boston area; Philadelphia; and Research Triangle Park, N.C.
Fund-Raise Exceeds Expectations
The initial fundraise period for the firm’s first commingled real estate fund surpassed expectations, exceeding the hard cap with total commitments reaching $1.45 billion.
The fund seeks to invest in real estate assets that continuously operate to support mission critical functions of the technology and life sciences industries.
Founded in 2001, GI Partners is a private investment firm with offices in San Francisco, New York, Chicago, Greenwich, and Scottsdale. The firm has raised over $32 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies.
The private equity team invests primarily in companies in the healthcare, IT infrastructure, services, and software sectors.