Fundamental Advisors Closes Fourth Flagship Fund Above Target at $1.43bn

Jul 20, 2022 | News | 0 comments

Fundamental Advisors, a leading alternative asset manager dedicated to municipal and public purpose investing, today announced the final close of its fourth flagship private equity fund, Fundamental Partners IV, with $1.43bn in capital commitments.

Reflecting Fundamental’s 15-year track record of delivering consistent returns, Fund IV’s total commitments significantly exceeded its original target of $1bn. The fund received enthusiastic support from a majority of existing investors along with a diverse group of new investors including state pension plans, insurance companies, university endowments and private wealth platforms.

“We are grateful for the confidence placed in us by our new and existing limited partners, resulting in the successful raise of our largest fund to date,” said Laurence L. Gottlieb, Chairman and CEO of Fundamental. “This is an extraordinary milestone in our firm’s 15-year history, and a testament to our talented team and growing reputation for achieving attractive risk-adjusted performance while protecting our partners’ capital. Our flexible capital and adaptive investment strategies position us well to successfully navigate an ever-changing investing landscape.”

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Fund IV will continue Fundamental’s strategy of employing both private equity-style control and high-yielding private credit practices to invest in essential community assets, such as affordable and workforce housing, renewable energy, senior care and infrastructure.

The fund will benefit from Fundamental’s extensive experience and specialized knowledge investing in special situations that are often overlooked by the broader market as well as its proven capability in improving, rehabilitating and repositioning assets to achieve current income and long-term capital appreciation.

To date, Fund IV has already invested over $1bn. Fund IV’s predecessor fund, Fundamental Partners III LP, closed in May 2017, with nearly $1bn in total commitments. Since its inception, Fundamental has successfully deployed over $4bn across more than 200 investments.

Mr. Gottlieb continued, “We are excited about the opportunities in our core sectors as we continue to deploy capital across a range of public purpose and community-focused investment themes, including enhancing the quality of and access to low income housing, improving care for seniors and filling a void in the development of clean, renewable energy. We look forward to continuing to deliver value for our investors and the communities we serve.”

Source: PR Newswire

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