New York, NY – September 7, 2022 – The Praedium Group (Praedium), a national real estate investment firm with a 31-year track record, recently completed fundraising for its tenth fund. In total, Fund X raised more than $728 million in equity to invest in multifamily housing in suburban growth markets, primarily in the South and West. Fund X attracted new and existing investors including public and corporate pension funds, insurance companies, foundations and endowments, and family offices. To date, the Fund has acquired 11 assets totaling $1.0 billion.(1)
Indicative of the firm’s dedication to its investors and its performance throughout its history, Fund X fundraising was nearly double the initial target.
“Serving as a fiduciary to our clients is a privilege,” said Russ Appel, Founding Principal of Praedium. “For more than 31 years, working toward the best interests of our investors through continuously enhancing our investment and risk management processes has been our philosophy.”
Fund X follows the recent success of the firm’s Fund IX, which was formed in 2017 and was fully realized through multiple transactions in the second half of 2021 and the first quarter of 2022. The Fund IX portfolio, which sold for approximately $2.2 billion(2), consisted of 22 properties in suburban markets that benefited from outsized job and population growth. Praedium was able to add value through capital and/or operational improvements, despite challenges posed by the Covid-19 pandemic, and far exceeded the Fund’s initial targeted return objectives.
The firm is additionally committed to incorporating ESG and DEI factors into its business and investment processes. Praedium signed the UN-supported Principles for Responsible Investment, and the firm has started reporting sustainability measures at its properties to GRESB. Recently, Praedium signed the ILPA Diversity in Action initiative.
“We value the relationships we have built with our investors, and we are grateful for the trust and confidence they place in us,” said Shelly Baldwin, Head of Client Development at Praedium.
1. Gross fair values as of August 25, 2022; includes co-investment capital
2. Includes co-investment capital
ABOUT THE PRAEDIUM GROUP
The Praedium Group is a privately held real estate investment firm formed in 1991. Since inception, Praedium has completed over 390 transactions representing $12 billion in capital. Over the past 31 years, The Praedium Group has sponsored a series of ten private equity funds, as well as several separate investment vehicles. The commingled funds and separate accounts sponsored by The Praedium Group have attracted investors that include public and corporate pension funds, financial institutions, insurance companies, foundations and endowments. Praedium is a signatory of UN PRI and the ILPA Diversity in Action initiative, and the firm is a Supporting Donor of the PREA Foundation. For more information, please visit https://praediumgroup.com/ or visit us on LinkedIn.