Commercial real estate investment firm Tryperion Holdings has announced the final close of its latest vehicle, Tryperion RE Fund IV (TREF IV), with $163 million in total commitments—more than double the $67 million raised in its previous fund.
To date, 72% of the fund’s capital has already been committed across a diversified mix of U.S. middle-market real estate equity and credit investments. These include office, retail, medical office, student housing, multifamily, and industrial assets.
Tryperion’s earlier vehicles—TREF I (2013) and TREF II (2015)—are fully realized and were both ranked in the top quartile of performance by the Cambridge Associates Index. TREF III (2018), while not yet fully realized, is also tracking top-quartile performance.
“We focus on opportunities others often overlook—where institutional capital tends to hesitate,” said Jeffrey Karsh, Founder and Managing Partner of Tryperion. “Our disciplined, value-oriented approach has delivered results across multiple cycles. We bring institutional execution to a fragmented, sub-institutional market.”
TREF IV attracted commitments from a range of prominent backers, including a top-20 Southeastern U.S. university endowment, and family offices linked to notable investment leaders such as Howard Marks, Tony Ressler, and Ken Moelis, as well as Andrew and Peggy Cherng, the founders of Panda Express.
Founded in 2013, Tryperion focuses on value-add real estate strategies across asset classes and the capital stack. The firm has invested in and managed over $2 billion in U.S. real estate to date.
Source: Business Wire
