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Alternative Assets  + Latest News  + Real Estate  | 
Bridge Investment Group to Buy Secondaries Specialist Newbury Partners for $320.1M

Bridge Investment Group Secures Record $2.26B for Fifth Multifamily Fund

Real estate investment manager Bridge Investment Group, which manages nearly $44bn in assets, closed its fifth multifamily fund – Bridge Multifamily Fund V – with $2.26bn in capital, making it the largest dedicated multifamily fund ever raised.  

The fund surpassed its $2bn target and attracted capital from institutional clients and high-net-worth individuals. The fund’s strategy is to invest in value-add, Class B multifamily housing properties in markets with high growth potential and a strong economic background. 

Fund V also attracted more capital than its previous fund, Bridge Multifamily Fund IV, which closed at $1.6bn in 2018. 

“We believe the multifamily market will continue to experience positive secular macroeconomic conditions for the foreseeable future, and we are excited to deploy the capital raised in Multifamily Fund V at what we view as an attractive point in the cycle,” said Jonathan Slager, Chief Executive Officer of Bridge. 

The record multifamily fundraise for the Salt Lake City, UT-based manager beat the previous recordholder of multifamily funds – Lennar Corporation’s $2.2bn Lennar Multifamily Venture.  

In addition, the raise comes shortly after Saratoga Springs, NY Prime Group Holdings established a record $2.5bn raise focused solely on self-storage.  

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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