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Harbert Management's US seniors housing fund pulls in $209M

A Harbert Management Corp.-backed fund focused on U.S. seniors housing properties raised $209 million in equity commitments and co-investment capital in the final close of its fundraising.

Harbert Seniors Housing Fund I LP, which is Harbert Management's first sector-specific real estate investment fund, attracted capital from domestic and global institutional and private investors.

So far, the fund has invested and committed roughly $103 million to 24 seniors housing properties in seven deals.

As of July 31, Harbert Management has about $2.4 billion in regulatory assets under management across its U.S. and European real estate funds, according to a release.