The initial fund raise period for the firm’s new core plus real estate fund concludes, representing one of the largest initial raises for an open end real estate fund in recent years
SAN FRANCISCO, April 5, 2022 – GI Partners, a leading private investment firm with a long history of investing in technology and science real estate, announced the conclusion of its initial fundraising period for the firm’s newest vehicle, the GI Real Estate Essential Tech+Science Fund (GI Partners ETS Fund LP – the “ETS Fund” or the “Fund”). The initial fundraise period for the firm’s first commingled real estate fund surpassed expectations, exceeding the hard cap with total commitments reaching $1.45 billion and representing one of the largest initial raises for an open end real estate fund in recent years.
Continuing the firm’s downside-protected growth investment strategy, the Fund seeks to invest in real estate assets that continuously operate in order to support mission critical functions of the technology and life sciences industries. The ETS Fund acquires data center properties, life sciences buildings, and “always on” research & development facilities within the office and industrial sectors. Since launching in 2021, the Fund has acquired eight properties in key growth markets, including the Bay Area, CA; the greater Boston area, MA market; Philadelphia, PA; and Research Triangle Park, NC.
John Sheputis, Managing Director of GI Partners and Head of the ETS Fund, said, “GI Partners has been investing in tech and science real estate for over 20 years, and that experience provides us with a critical competitive advantage when evaluating assets. Our team’s familiarity with markets and operators helps us identify and execute on lower risk growth opportunities in these sectors. We created the ETS Fund to build a diverse portfolio of tech and science assets which will provide a mix of income and growth.”
“We have a long history of investing in specialized real estate sectors, and see technology and life sciences assets as offering the unique traits of strong secular growth fundamentals and resilience through cycles,” said John Saer, Managing Director of GI Partners and Head of GI Real Estate. “Our team of over 30 professionals is very excited at the opportunities we’re seeing that extend our tech and science real estate experience into the core plus space.”
The ETS Fund’s diverse investor base includes public pensions, corporate pensions, financial institutions, and investment management firms from the United States, Canada, and Europe. “We are grateful to our limited partners for the confidence they have entrusted in our team, strategy and experience and appreciate their support in launching the firm’s first commingled real estate fund,” said Philip Yau, Managing Director of GI Partners.
About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 125 employees and offices in San Francisco, New York, Chicago, Greenwich, and Scottsdale. The firm has raised over $32 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the healthcare, IT infrastructure, services, and software sectors. The real estate team focuses primarily on technology and life sciences properties as well as other specialized real estate sectors and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.