Asana Partners Closes Third Value-Add Fund at $1.5 BillionMarch 16, 2022
CHARLOTTE, N.C. (March 16, 2022) — Asana Partners announced today the final close of Asana Partners Fund III (the “Fund”) with aggregate equity commitments of $1.5 billion. A diverse group of institutional investors from North America, Europe, and Asia Pacific made commitments to the Fund. It is Asana Partners’ fifth fund and the third in its flagship series of value-add funds focused on acquiring and repositioning mixed-use assets in high-quality urban and near-urban neighborhoods in the United States.
Terry Brown, Asana Partners Managing Partner and Co-founder, commented, “We are grateful for the confidence and support of our existing investors and are excited to formalize partnerships with a number of new investors.”
The Fund reached its hard cap of $1.5 billion and was oversubscribed within six months of commencing the marketing process.
Asana Partners Managing Partner and Co-founder Jason Tompkins added, “Significant investor demand is a testament to the caliber of our team of nearly 100 professionals, and it is a clear indication of the marketplace opportunity across our target cities.”
“We are well-positioned to continue to execute on our investment strategy and use our vertically integrated capabilities to enhance communities and create value for our investors,” said Sam Judd, Managing Partner and Co-founder of Asana Partners.
King & Spalding LLP acted as legal advisor to the Fund.
Hodes Weill Securities, LLC acted as the exclusive placement agent to Asana Partners in connection with the private placement of interests to certain new investors in the Fund.
The information contained herein regarding Asana Partners is for informational purposes only and does not contain certain material information about alternative investments, including important disclosures and risk factors associated with an investment in these types of vehicles, and is subject to change without notice. This document is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation of any offer to buy, shares or limited partnership interests in any funds managed by Asana Partners. If any such offer is made, it shall be pursuant to a definitive “Confidential Private Placement Memorandum” prepared by or on behalf of a specific fund that contains detailed information concerning the investment terms and the risks, fees, and expenses associated with an investment in that fund.Back