Savanna Investment Management raises $591m

The New-York based firm closed its fourth real estate fund.

Savanna Investment Management held a final close on $591 million for its Savanna Real Estate Fund IV. The firm has set a $600 million and began fundraising in December 2017. Picton is one of the investors of the fund.

The firm’s predecessor fund closed on $440 million in 2015.

The firm will use the capital to make value-added investments in North America’s office sector.