Whitman Peterson raises $402m

The Westlake Village-based firm closed its third real estate fund.

Whitman Peterson held a final close for its Whitman/Peterson Partners III at $402 million, surpassing its original $300 million target. The firm began fundraising in mid-2016 and held a first close in December 2016.

The firm will use the capital to make opportunistic investments in hospitality and residential sector in North America.

The firm’s second fund had closed on $235 million in 2015.