Apogem Capital closes Real Assets Fund IV at $372m, above target

Apogem Capital closed Apogem Real Assets Fund IV with $372 million in commitments, above its $300 million target, and raised a $100 million co-investment separate account, lifting the program total to $472 million. IREI reported that is Apogem's largest real assets raise.

Commitments to the fund include $12 million from the firm's own employees, roughly 3% of the vehicle. It will target energy, natural resources, infrastructure and related services assets mostly in North America and other OECD markets, largely through co-investments, direct investments and secondaries in the lower middle and middle market. Apogem established its dedicated real assets platform in 2014 and says it has deployed about $1 billion across the strategy since.