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Wis. private equity firm raises $687M for healthcare property investments

Hammes Partners, a Brookfield, Wis.-based private equity firm, raised $687 million for its latest fund, exceeding the target of $600 million, the (Milwaukee) Business Journal reported.

Hammes Partners III will begin deploying the funds in 2018 and will continue to do so for three to four years, according to the report, which cited Principal Patrick Hammes. The capital raise will leverage debt for $2.25 billion in investments in existing healthcare properties and new projects, said Jon Hammes, the firm's founder.

The funds raise capital from institutional investors, including pension funds, insurance companies, foundations, endowments, fund of funds and family offices. Hammes Partners, which is focused on healthcare real estate, is an affiliate of real estate development company Hammes Company LLC.