Carmel Partners has raised $942 million for its Carmel Partners Investment Fund VI, according to a SEC filing. The San Francisco-headquartered firm began fundraising in 2015 with a $1 billion target.
Its previous fund raised $1.03 billion in 2014.
Investors that committed to Carmel Partners Investment Fund VI include the Texas County and District Retirement System, the San Francisco Employees' Retirement System and the University of Michigan.
The fund will target value added opportunities in multifamily/residential sectors in the United States.