Asana Partners Announces Final Close of $500 Million Debut Fund
CHARLOTTE, N.C. (January 26, 2017) – Asana Partners (“Asana”), a vertically integrated retail real estate investment management firm, today announced the final close of Asana Partners Fund I (the “Fund”) with $500 million in equity commitments. The Fund received commitments from a diverse set of investors, including some of the nation’s leading state pension funds, municipal pension funds, corporate pension funds, insurance companies, and endowments.
“We greatly appreciate the support of our investors whose commitment underscores the strength of our business strategy and depth of our team,” said Terry Brown, Co-Founder, Chairman, and Chief Executive Officer of Asana.
The Fund was oversubscribed and achieved its hard cap of $500 million within nine months of launch. The Fund is targeting a range of retail real estate investment opportunities in high growth urban and infill neighborhood locations in the United States. Twenty-five percent of the Fund’s equity commitments have already been invested in or committed to attractive neighborhood retail markets in Washington, D.C., Charlotte, Atlanta, and Austin.
“The speed at which we met our cap highlights investor confidence in Asana’s differentiated retail real estate operating capabilities,” said Jason Tompkins, Co-Founder, President, and Chief Operating Officer of Asana.
Sam Judd, Asana’s Co-Founder and Chief Investment Officer, added, “We are executing on exciting opportunities in our target markets where we see strong potential for retail real estate value creation.”
Hodes Weill Securities, LLC, acted as the exclusive placement agent to Asana in connection with the private placement of interests to certain investors in the Fund.
King & Spalding LLP acted as legal advisor to the Fund.
Media Contact:
Julie C. Ducworth
(803) 465-1198
julie@jcdcommunications.com