Pennybacker Capital Management, LLC, a real assets investment manager, today announced the final closing of its sixth value opportunity series fund, Pennybacker VI, LP, which exceeded its target with $1.6 billion in capital commitments.
Fund VI received strong support from its existing investor base and has attracted numerous first-time commitments from leading institutional investors. Fund VI seeks to invest in U.S. real estate assets across equity and debt opportunities.
“The continued growth of our value opportunity fund series is a testament to the partnerships we have forged and our track record as a real estate investor,” said Tim Berry, Founder, CEO, and Co-Chief Investment Officer of Pennybacker. “We are excited to put Fund VI commitments to work given the backdrop of dislocation across real estate capital markets and our deep experience finding and creating value during turbulent times. Our ability to execute across the capital spectrum, property sectors, and U.S. regions presents what we believe to be a compelling risk-adjusted opportunity for our investors.”
“We are grateful for the continued support from our existing investors and welcome many new relationships to Pennybacker. The commitment to Fund VI in a challenging fundraising environment validates the trust we have built and performance we have delivered across cycles,” said Andrew Knox, Managing Director and Head of Capital Formation of Pennybacker.
About Pennybacker
Pennybacker is a real assets investment manager based in Austin, Texas, with approximately $4 billion in assets under management. The firm pursues real estate and infrastructure strategies through closed-end and open-ended vehicles across the capital structure. For more information, visit https://www.pennybackercap.com.
