US real estate investor Cottonwood has launched a $750m (鈧�612m) open-ended property fund.

The manager said the Cottonwood Founders Portfolio Fund has already received $200m worth of capital commitments from the manager鈥檚 existing partners. Cottonwood has also made a 10% co-investment into the fund.

Alexander Shing, founder and CEO of Cottonwood, said: 鈥淭he launch of the Cottonwood Founders Portfolio Fund is a momentous milestone in our company鈥檚 nine-year history. Investor support has never been more critical as we identify valuable, high-profile opportunities across the country that are in alignment with our objectives and benefit both our investors and our bottom line.

鈥滱dding the fund to our wide and deep resources creates leverage and opportunity and bolsters great efficiency in our deal-making process going forward.鈥�

Headquartered in Los Angeles with offices in Boston and New York, Cottonwood specialises in generating alpha returns through investments with special opportunity characteristics. These include master-planned, ground-up development, value-add, re-positioning, transitional and distressed real estate assets. 

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