Castleforge Partners III (CFP III) successfully exceeded its predecessor by 15%, despite challenging fundraising conditions created by Brexit and the Covid-19 outbreak.

It has further diversified its investor base by securing new commitments from institutional investors in North America, Europe and South America, including a private pension fund, endowment, foundation and family offices.

The fund received approximately 60% of the capital from long-standing partners.

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Since the private equity real estate business was established in 2010 it has closed 40 deals and successfully realised 17. 

Brandon Hollihan, co-founder of Castleforge Partners (pictured above), said: “We are greatly appreciative of our investors, old and new, for their support and partnership. 

“It is an exciting time for Castleforge Partners, and we believe we are well positioned to access new opportunities and grow our business, while also supporting the communities in which we invest.”

Atlantic-Pacific Capital served as the exclusive global placement agent. 

Alex Hurst, partner at Atlantic-Pacific Capital, added: “We are pleased to close CFP III with commitments in excess of the predecessor vehicle, despite headwinds in the capital markets resulting from a trilogy of events incorporating Brexit, a snap election and a global pandemic. 

“We have enjoyed the second collaboration with Castleforge Partners and expect their focus on risk management and the unremitting evolution of their platform will serve investors well.”