Avanath Capital Management LLC has closed its fourth discretionary fund with a total of $760 mil in equity commitments, which is significantly above the fund’s original commitment target of $550 mil. The fund will target affordable/workforce housing assets in supply-constrained markets with high barriers to entry that are poised for strong job, income, and economic growth.
“Our focus has always been on preserving affordability in underserved markets across the country,” explains Daryl Carter, Avanath’s Founder, Chairman and CEO. “As our fourth fund, we plan to continue this mission by bringing institutional capital to these communities, many of which are communities of color. In fact, our entire Avanath team is extremely diverse, which we believe allows us to better serve residents and our investors.”