Woodbourne raises C$756m for Canada Partners V

The Canadian residential rental specialist completed the fundraise on its fifth opportunity fund in October 2022.

Fund name: Woodbourne Canada Partners V
Fund size: C$756.2 million ($554 million; €‎525 million )
Fund status: Final close
Date of final close: October 2022
Time on the road: One year; three months
Predecessor fund: Woodbourne Canada Partners IV (C$660 million)

PERE can exclusively reveal that Woodbourne Capital Management recently held a final close for its fifth flagship Canadian opportunistic real estate private equity fund.

Evercore told PERE that Canada Partners V held its final close in October 2022, raising C$756.2 million in commitments and eclipsing the size of its C$660 million predecessor fund. A significant portion of the fund’s commitments were pledged by existing investors. The investor base includes endowments, foundations, private and public pensions, and insurance companies across the globe.

This latest fund continues Woodbourne’s strategy of investing in Canadian real estate. Founded in 2000, Woodbourne Capital Management is a real estate firm targeting investments in multifamily, senior housing, student housing and other niche sectors across Canada.

Woodbourne has raised more than $3.4 billion in capital across its funds to date. Its portfolio includes 31,000 multi-residential units and 9,100 self-storage and industrial units across nine provinces in Canada.

Evercore’s Real Estate Capital Advisory business acted as the exclusive global placement agent for the fund.