Pennybacker closes Fund VI above target at $1.6bn

Private Equity Wire

Real assets investment manager Pennybacker Capital Management has held the final closing of its sixth value opportunity series fund, Pennybacker VI, with $1.6bn in total capital commitments.

Fund VI focuses on investments in US real estate assets across equity and debt opportunities.

Austin, Texas-based Pennybacker has approximately $4bn in AUM and runs real estate and infrastructure investment strategies through closed-end and open-ended vehicles across the capital structure.

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