At a glance
- The firm said the close exceeded its target.
- The fund has completed nine acquisitions, including Holiday Centre in Monroeville, Pa., and has five more properties under contract, the firm said.
- The announcement did not disclose the fund's target size or how far commitments exceeded it.
RCG Ventures closed its eighth fund with $515 million in commitments, the multi-tenant retail investor said Monday. The firm said the close exceeded its target.
The fund has completed nine acquisitions, including Holiday Centre in Monroeville, Pa., and has five more properties under contract, the firm said.
The announcement did not disclose the fund's target size or how far commitments exceeded it. RCG Ventures is the vertically integrated real estate investment arm of Argonne Capital Group, and Fund VIII drew a mix of new and existing institutional investors, the firm said.
For allocators comparing retail vehicles, the announcement gives the $515 million close but not the fee, leverage or split between called and uncalled capital. Diligence will have to establish how much of Fund VIII's cost basis overlaps with platform-level assets.
RCG's previously announced $1.7 billion purchase of a multi-tenant retail portfolio from Global Net Lease more than doubled its platform footprint, the firm said. The release described that deal as platform momentum, not as a Fund VIII investment.
Reported by the Fundraising desk from Connect CRE. Published . Corrections