Crystal View Capital Closed Third Fund Upon Raising $140m Due to Investor Demand

Las Vegas is not what investors typically think of when considering which private equity firm to place their capital into, but Las Vegas-based private equity firm, Crystal View Capital has announced closure of its third Fund, Crystal View Capital Fund III to new subscriptions as of October 19, 2022.

The founder and team initially targeted a $95 million capital raise in November of 2020 but closed the raise at $140 million due to investor demand and continued deal flow from its in-house deal sourcing team.

Fund III has 46 assets, managing over 15,000 units/lots with a modest 31.4% loan-to-value for the portfolio as of Quarter 3, 2022. The existing portfolio is comprised of approximately 79% self-storage and 21% manufactured home communities across the United States (based on Net Operating Income for Quarter 3 2022), over 90% of which were identified off-market. Inception to date, Fund III has paid over $9 million in preferred return distributions to its investors and deployed over $132 million of its raise into assets.

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Crystal View Capital is known for its vertical integration and superior in-house management team that allows the Firm to take calculated steps to maximize each asset under management. With over $450 million in AUM currently, supported by over 140 professionals from its corporate office in Las Vegas and each asset across the United States, the Firm plans to double its footprint in the next year with the recent launch of Crystal View Capital Fund IV LP (“Fund IV”), which is now open to accredited investors.

When asked about deal flow amidst rising interest rates and the Fed’s desire to reverse inflation, Matthew Ricciardella, the Firm’s managing partner, leaned into the Firm’s values and brand. “We are all about controlling our own destiny and drilling down into to our core competencies.

Each member of our team is responsible for asking what can be done, each day, to better the organization and strengthen the power of our brand and in turn the value we can provide to our investors. Each day I look around and I am in awe at the talent we have in our business and through continued innovation and the ability to pivot as needed, we are confident in our ability to deliver returns to our investors now and many years to come.

We do not just believe that there will be opportunities, we have identified our specific targets and are beginning to use our relationship-driven team to put together deals that are compelling for both our investors and the sellers we work with. We are very excited about what the future holds.

Source: PR Newswire

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