Brasa Capital raises $120m

The Los Angeles-based investment firm will target transactions requiring $5 to $25 million of equity.

Brasa Capital has held a final close of its debut investment fund, Brasa Real Estate Fund. The inaugural fund oversubscribed, exceeding its $100 million fundraising target with $120 million in capital commitments.

The fund, which launched back in September 2018 will focus on middle-market commercial real estate opportunities across the Western US. Already the fund has made seven investments including a non-performing loan, mezzanine debt, preferred equity and joint venture equity.

Limited partner investors in the fund include pension funds and family offices.