Stonelake Capital Partners has held a final close of Stonelake Opportunity Partners V at its $325.9 million hard-cap, surpassing its initial target of $300 million after less than six months of fundraising. The firm’s fifth fund is dedicated to real estate investments in the Texas, US market. Investments of between $5 million and $40 million will be made into multifamily, industrial and office sectors.
Limited partners in the fund include major college endowments, foundations and hospital systems.
Stonelake Opportunity Partners IV held a final close at $262 million in March 2016 and was backed by investors such as the Metropolitan Government of Nashville and Davidson County Employees’ Benefit Trust Fund.
As with its previous fundraises, Stonelake did not use a placement agent for Fund V. Goodwin Procter provided legal counsel.