Prado Group holds initial closing of Prado Alpha Fund at USD200m
The Prado Group, a privately held real estate investment and development company, today announced the first USD200 million closing of its Prado Alpha Fund. The Fund will raise up to USD250 million from strategic investors for co-investment with best-in-class institutional joint venture partners.
The Alpha Fund will make direct GP investments, GP co-investments, and direct investments.
The Alpha Fund’s founding co-investors include key strategic private investors from San Francisco, Silicon Valley, Seattle, Los Angeles, Texas, and New York. The Fund is targeting core-plus, value-add, and opportunity real estate in high-growth, knowledge-centric regions dominated by innovation ecosystems. The Fund’s investments will include primarily multi-family housing, retail and office.
“Over the last two decades, Prado Group has achieved very strong returns by aligning with forward-looking and connected partners while executing deep value-add strategies in dynamic high growth, high barrier markets,” says Zach Felson, Co-Chief-Investment Officer and Head of Acquisitions at Prado Group. “The data shows that the innovation regions, their world-class educational institutions, powerful venture capital infrastructure, and dynamic work-play environments will continue to attract the best and brightest companies, ambitious career builders, and financial change-makers who transform great ideas into enduring real estate demand.”
“Geolo Capital is proud to be one of Prado Group’s anchor partners alongside other key strategic investors who are driving much of the ideation and growth in the innovation regions. We look forward to supporting Prado’s winning strategy for the Alpha Fund and creating enduring partnerships with top institutional real estate investors,” says John Pritzker, Founding Partner of Geolo Capital.