Equity International closes fifth fund

The Chicago firm has raised $650m for its latest vehicle, which will focus on real estate companies in emerging and frontier markets.

Equity International has closed its fifth fund, according to the Chicago-based real estate investment management firm. The fund, Equity International Fund V, raised $650 million in equity commitments, which makes it the firm's largest fund to date.

Fund V will continue Equity International's strategy of co-investing with select operating partners in both existing and newly formed companies, with a focus on scalable operating platforms. The firm will seek such opportunities in highly compelling emerging and frontier markets.

“Fund V reflects the natural evolution of our business,” said Gary Garrabrant, chief executive officer of Equity International. “We will continue our investment strategy and platform investing approach in markets where we have an established presence, such as Brazil, as well as in new markets, including Colombia and India.” 

Through its investment fund series, Equity International has raised more than $2 billion in capital and invested in 21 portfolio companies representing a wide spectrum of real estate-related sectors, including homebuilding, retail property, corporate property, warehousing and distribution, hospitality, senior living and specialty finance.

They include six firms in Brazil, representing the homebuilding, logistics, retail, corporate property and real estate finance sectors, as well as homebuilders in Mexico, China and Egypt.