Brookfield-based MLG Capital has opened its sixth private real estate investment fund with a fundraising target of $400 million. Dubbed MLG Private Fund VI, it is the company’s largest fund to date. The latest from MLG…


Based in Brookfield MLG Capital opened its sixth private real estate investment fund with a fundraising target of $400 million. Dubbed MLG Private Fund VI, it is the company’s largest fund to date. MLG’s last real estate investment fund, Fund V, had a target of raising $300 million and ended up capping at $350 million. Fund V closed last month, 15 months ahead of schedule. “Our unique sourcing strategy for investment opportunities across a diverse fund structure has led to superior performance in the alternative private real estate space,” said Tim Wallen, director and CEO of MLG Capital. “We are also focused on creating significant tax advantages and generating strong after-tax rates of return for our investors. We are very proud of the continued interest and confidence of our investors, and are excited about the opportunity to source smart real estate deals across the country for Fund VI. Private Fund VI continues the company’s focus on geographic, asset class and asset type diversification for investors. It targets more than 25 to 30 investments located in markets and locations where the company can increase the operating profit of the property. As part of its current growth strategy, MLG Capital aims to open a new fund offering every two years. MLG has also committed up to 10% of the total capital raised under Private Fund VI for their make a difference (MAD), which launched in October 2021. This allows investors to donate a percentage of returns to one of six charitable donations. “Part of MLG’s overall mission is to ‘make a difference while earning a living’ and the MAD initiative is rooted in that desire,” Wallen said. “We have been delighted with the interest in the MAD initiative through Private Fund V and are proud to expand the program with our new fund.” MLG added more than $283 million in assets in Q1 2022 and closed eight transactions.