In the Press
November 29, 2023

Nine of 10 Bridge Investors Head for Exit in Continuation Fund Deal (FundFire)


Nine of 10 investors in a Bridge Investment Group multifamily real estate fund decided not to go along for the ride when the manager rolled three of the assets into a continuation fund, underscoring that many limited partners today are not sticking around in the vehicles that have becoming increasingly popular among private fund players. Real estate managers’ decision to pursue more continuation vehicles isn’t surprising given the market is maturing and there is greater desire to provide investors with the option to get capital back, said John Ferguson, Real Estate co-chair, to FundFire. That’s especially true if managers feel the assets can’t achieve the value that they would achieve in a less challenging market. Bridge’s multifamily fund was at the end of its fund life, already having run through its first one-year extension period. The fund had a development asset and several other properties that were not in an optimal position to realize.