Fund XIII · Growth
Fund XIII · Growth
Growth Equity into Scaling Operators and Platforms
Fund XIII deploys growth equity into scaling real estate operators and vertically integrated platforms building the next generation of the sector.
Strategy
The mandate.
Fund XIII deploys growth equity into real estate operating companies and vertically integrated platforms rather than into individual assets — backing management teams that are scaling origination, development, or property-management capabilities across a durable pipeline. The strategy targets recurring, fee-generating platform economics alongside traditional asset-level upside, with a long-hold orientation designed to compound platform value as these operators grow their footprint across Sun Belt markets.
Focus Areas
- Real estate operator equity
- Vertically integrated platform builds
- Recurring platform revenue capture
- Long-hold platform value creation
Fund Terms
Structure & economics.
| Term | Fund XIII |
|---|---|
| Target Fund Size | $1.102B |
| Structure | Delaware limited partnership |
| Preferred Return | 9%, compounded |
| Carried Interest | 20% above the 9% preferred, with 100% GP catch-up |
| GP Commitment | 2% of committed capital |
| Distribution Waterfall | European, whole-fund |
| Minimum LP Commitment | $2,000,000 |
| Target Net IRR | 20–28% |
| Leverage | 40–55% LTV (raw) / 50–60% LTV (entitled) |
| Investment Period | 5 years |
| Fund Term | 10 years, plus two 1-year extensions |
Terms shown are indicative and are qualified in their entirety by the fund's definitive offering documents, available to qualified investors.
Interested in Fund XIII?
Request offering materials and speak with our investor relations team.