EBF & Associates has announced the closing of Merced Partners III, a USD567 million value and real asset opportunities fund. The fund is a six-year lock-up vehicle and is the successor to Merced Partners II, a similar USD474 million fund organized in 2007.
Limited partners investing in Merced III include endowments, foundations, state and corporate pension plans, and family offices, as well as significant general partner investment. EBF currently manages USD1.8 billion in capital.
Merced III seeks to generate superior risk-adjusted returns, without using leverage, with the same opportunistic value and real asset investment strategies successfully utilized in Merced II. Merced III plans to focus on areas where EBF has significant expertise, including insurance, equipment, real estate and corporate debt and equity. The fund will target medium-size opportunities, generally ranging from USD10 million to USD50 million.
“We are pleased that interest in Merced III was strong in a challenging fundraising environment,” says David Ericson, Managing Partner, EBF & Associates. ”We appreciate the confidence that our limited partners have shown in the EBF team and in our unique investment strategies. We will continue to target niche sectors with a contrarian mentality.”
