Kirkland Guides WHI's Oversubscribed $285M Fund
Kirkland & Ellis LLP represented WHI Real Estate Partners LP in connection with the closing of an oversubscribed $285 million fund, a matter Chicago-based WHI announced Thursday.
The company said the fund, WHI Real Estate Partners IV LP, will invest in office, residential, hotel, industrial, retail and other asset classes across the United States.
The fund had targeted a $250 million raise. WHI Real Estate Partners did not name specific investors in the latest fund in its announcement Thursday.
"WHIREP IV received capital commitments from a diverse group of institutional investors, including university endowments, foundations, corporate pension plans, family offices and others ... [and the fund will continue] the opportunistic investment program of [WHI Real Estate Partners]'s predecessor funds," the company said in a statement Thursday.
The company couldn't be immediately reached for additional comment Thursday.
WHI Real Estate Partners expects the latest fund to spend between $750 million and $850 million on real estate purchases.
The fund has already made seven investments, and has interests in a portfolio of residential, office and industrial properties that have a combined roughly 2.6 million square feet.
The company's first real estate fund in 2010 raised $24.125 million from a group of 77 investors, according to a filing with the U.S. Securities and Exchange Commission in June 2010.
Its third fund had 97 investors on board and had raised $123 million as of January 2015, according to an SEC filing that month.
The company was founded in 2010.
WHI Real Estate Partners operates a series of institutional investment funds and focuses on repositioning U.S. real estate assets. The company manages roughly $850 million in assets for its foundation, endowment, family office and corporate pension plan clients.
WHI Real Estate Partners LP is wholly owned, but has a "strategic relationship" with private investment office William Harris Investors Inc., according to its website. The company is led by managing principals James Orth and David Rosenbaum.
Counsel for WHI Real Estate Partners couldn't be immediately reached for comment on Thursday.
PJT Partners Inc. affiliate Park Hill Group acted as placement agent for the latest fund.
WHI Real Estate Partners LP is represented by Edward Schneidman, David Stults and Priya Gupta of Kirkland & Ellis LLP.
Additional counsel information was not immediately available Thursday.
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