Alidade Capital closes fifth value-add real estate fund

The Michigan-based asset manager has announced the final closing of the fifth vehicle in its flagship value-add real estate fund series.

  • Fund name: Alidade Capital Fund V
  • Fund size: $250.6 million
  • Target size: $250 million
  • Fund status: Final close
  • Date of final close: January 2023
  • Time on the road: Two years
  • Predecessor fund: Alidade Capital Fund IV ($150 million)

Alidade Capital has reached a final close for its fifth-series flagship value-add private real estate vehicle, a contact at the firm has confirmed to PERE.

Alidade Capital Fund V closed on $250.6 million in capital commitments, slightly surpassing the original target of $250 million. The fund received strong support from new and existing investors across the US, including a diverse mix of public and private pensions, endowments, foundations, insurance companies and high-net-worth individuals.

ACF V represents a 67 percent increase in committed capital from its predecessor fund, which raised $150 million and closed in April 2017. Including Fund V, the family has amassed just over $540 million in capital commitments.

ACF V intends to target real estate investments located in innovative industrial ecosystems that are attractive to companies in transformational sub-sectors such as life science, engineering, robotics, software and other technology related industries.

Alidade Capital is a real estate fund manager and registered investment adviser which targets value-add real estate investments in select secondaries markets. The firm was founded in 2010 and as of September 30, 2022 had approximately $694 million in regulatory assets under management.