Equity International closes $500m fund

The Sam Zell-led firm has closed its largest-ever fund.

Equity International has closed its latest private equity real estate vehicle with approximately $500 million (€340 million) in equity commitments. The fund is the Chicago-based firm’s fourth, and largest, vehicle to date. Its prior vehicle closed on $300 million in early 2007.

“With Fund IV, we will continue our successful investment strategy and partnering approach both in markets where we have an active presence such as Brazil and China, as well as exploring new geographies,” co-founder Gary Garrabrant said in a statement.

The 9-year old firm said all of its existing investors re-upped, while the fund also attracted some new investors.

More detailed information about the fund and its strategy can be found in the next issue of sister magazine PERE.