BIRMINGHAM, Ala., May 05, 2020 (GLOBE NEWSWIRE) -- Harbert Seniors Housing Fund II, L.P., along with its parallel funds (collectively, the “Fund”), which invest in seniors housing properties in the United States, is pleased to announce its final close on April 30, 2020, bringing in total equity commitments of approximately $510 million. The Fund, which includes significant institutional and private investors from domestic and international sources, represents the second sector-specific real estate investment fund for Harbert Management Corporation (“HMC”). Globally, HMC manages approximately $7.4 billion of Regulatory Assets Under Management as of March 31, 2020.
The Fund has closed eight transactions to date including three joint venture development opportunities. These investments total nine properties and create a diverse portfolio of seniors housing properties across geography, operator and acuity. The Investment Team will continue to focus on opportunities that exhibit consistent, reliable cash flow and yield enhancement potential.
“We are thankful for the continued support of our existing investors, and excited by the strong group of new investors that have shown confidence in our disciplined investment strategy, talented Investment Team and asset management execution capabilities,” said Brian Landrum, Co-Fund Manager for the Fund. “Having successfully raised our second pool of discretionary capital puts us in an excellent position to continue to build a high quality portfolio of seniors housing properties through our operating partner relationships,” added Trent Johnson, Co-Fund Manager for the Fund. Harbert Seniors Housing Fund I, L.P., totaling $209 million including co-investment capital, is fully committed across 30 properties with nine best-in-class operators.
“Seniors housing has many long-term tailwinds and our team is uniquely positioned to deliver strong results to our limited partners. The success of this fundraise and the quality of the investor base highlights the strength of the Investment Team and the depth of supporting infrastructure. We are grateful for the trust that a growing number of institutions have placed in HMC,” said Travis Pritchett, Senior Vice President and Global Head of Real Assets for HMC.
About Harbert Management Corporation
The Fund is sponsored by HMC, an alternative asset management firm with approximately $7.4 billion in Assets Under Management as of March 31, 2020. HMC is a privately owned firm formed in 1993 to sponsor alternative asset investment funds. HMC serves foundations and endowments, fund of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Investment strategies include European and U.S. real estate, seniors housing, U.S. growth capital, credit solutions, independent power, European growth equity, and absolute return funds. Additional information about HMC can be found at www.harbert.net.