Avanath Capital Management has completed a final close of its fourth discretionary fund with $760 million in equity commitments, surpassing its target of $550 million.
The fund targets affordable and workforce housing in supply-constrained markets in the United States, with an emphasis on underserved markets.
“Our focus has always been on preserving affordability in underserved markets across the country,” said Daryl Carter, founder, chairman and CEO of Avanath. “As our fourth fund, we plan to continue this mission by bringing institutional capital to these communities, many of which are communities of color.”