Month: April 2023

The fund will acquire limited partnership interests in real estate through the private secondary market.

Velocis has closed its latest fund, Velocis Secondary Partners III, which raised more than $170 million, exceeding its target by more than 70%.

The fund will acquire limited partnership interests in real estate funds and real estate assets through the private secondary market. The fund’s partners includes corporate pension funds, insurance companies, endowments, foundations, registered investment advisors, family offices, and high-net-worth individuals.

Velocis Secondary Partners III is expected to invest in a wide range of real estate property types, including industrial, multifamily, office, retail, data centers, hospitality, life science, medical office, senior housing, and single-family residential properties in the U.S., Asia, Europe, and Latin America. The fund’s strategy is to acquire limited partnership interests at favorable prices from sellers in need of liquidity.

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Private equity real estate fund manager Velocis has closed on its latest fund after raising more than $170 million, exceeding its target by more than 70% and putting it in a position to buy a stake in real estate in high-growth markets throughout the world.

The Dallas-based firm’s newly raised fund, Velocis Secondary Partners III, gives it capital to acquire limited partnership interests or stakes in real estate funds and assets through the private secondary market, in which another investor sells a stake in its existing funds and assets. Like other real estate investors, Velocis has a history of investing in high-growth cities throughout the United States.

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Investment manager Velocis has held a final close on $172 million of equity for its third fund targeting secondary-market real estate investments.

The Dallas-based fund operator wrapped up its capital campaign last week for Velocis Secondary Partners 3, above the vehicle’s $100 million to $150 million target. The unleveraged fund
is roughly 20% invested. Velocis doesn’t use a placement agent.

Fund 3 aims to produce an 18% return by investing in operator- and limited partner-led recapitalizations of funds and property portfolios. The dislocated capital markets are likely to provide investment opportunities as owners and vehicle managers hampered by the recent runup in interest rates seek liquidity.

The fund focuses on the U.S., with 80% of its equity set to be invested there, but it can also invest 10% apiece in Asia and Europe.

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