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Asana Partners hits final close for third fund

The Charlotte-based investment firm has held a final close for its third private real estate fund.

Fund: Asana Partners Fund III
Size: $1.5 billion
Hard-Cap: $1.5 billion
Time on the road: Six months
Predecessor fund: Asana Partners Fund II ($800 million)

Charlotte-based real estate firm Asana Partners has held a final close for Asana Partners Fund III, according to a press release.

Asana III closed on its hard-cap of $1.5 billion. A diverse group of institutional investors from North America, Europe and the Asia-Pacific region made commitments to the vehicle.

Asana’s third flagship fund continues the strategy’s value-add focus on acquiring and repositioning mixed-use assets in high-quality urban and near-urban neighborhoods in the United States. The fund will target areas containing strong demographics, high educational attainment and above-average household income.