CHARLOTTE, N.C.— Asana Partners (“Asana”) today announced the final close of its second value-add fund, Asana Partners Fund II, LP (the “Fund”), with $800 million in equity commitments. The Fund received commitments from a diverse set of institutional investors, including public pension funds, corporate pension funds, insurance companies, endowments, foundations, sovereign wealth funds, and family offices.
The Fund was oversubscribed and achieved its hard cap of $800 million within 12 months of commencing the marketing process. The Fund is fully-discretionary and is targeting a range of retail real estate investment opportunities in high-growth urban and infill neighborhood locations across the United States.
“We are grateful for the broad-based support of our existing investors and are excited about new partnerships with numerous domestic and foreign investors,” said Jason Tompkins, Managing Partner of Asana. “The quality of this investor base underscores the strength of our investment strategy and depth of our organization.”
Over the past 36 months, Asana has closed $2 billion of institutional equity commitments across its various investment vehicles and strategies.
Sam Judd, Managing Partner of Asana, added, “We continue to source compelling investment opportunities in target markets where we see high potential to leverage our unique capabilities and deep relationships, creating value for our investors.”
King & Spalding LLP acted as legal advisor to the Fund.
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.
About Asana Partners
Asana Partners is a retail real estate company investing in high-growth markets across the United States. Leveraging its differentiated capabilities in retail real estate value creation, the Company capitalizes on opportunities to create authentic retail experiences in compelling locations around the country. For more information, visit www.asanapartners.com.
The information contained herein regarding Asana Partners is for informational purposes only and does not contain certain material information about alternative investments, including important disclosures and risk factors associated with an investment in these types of vehicles, and is subject to change without notice. This document is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation of any offer to buy, shares or limited partnership interests in any funds managed by Asana Partners. If any such offer is made, it shall be pursuant to a definitive “Confidential Private Placement Memorandum” prepared by or on behalf of a specific fund that contains detailed information concerning the investment terms and the risks, fees, and expenses associated with an investment in that fund.