- South Street invests in private residential clubs and resorts
- South Street is headquartered in Charlotte, North Carolina and Charleston, South Carolina
- Currently, it has over $1.3 billion of assets under management
South Street Partners, a private equity real estate investment firm, has closed its inaugural discretionary fund at over $225 million, beating its $100 million target.
SSP GP Fund I was formed to continue to invest real estate assets located in the Southeastern U.S. as well as select U.S. and international markets.
The fund’s limited partners include family offices, registered investment advisors, wealth management firms, funds of funds and high-net-worth investors.
So far, the fund has invested in Palmetto Bluff, a private residential club and resort community located in Bluffton, South Carolina; and Kiawah Partners, a portfolio of real estate and operating assets including much of the remaining residential land on Kiawah Island, a 10,000-acre resort community off the coast of Charleston, South Carolina.
“As a former fund-less sponsor raising capital on a deal-by-deal basis, reaching the closing of our inaugural U.S. discretionary commingled fund is a major achievement,” said Chris Randolph, a partner at South Street, in a statement. “Raising this fund through the pandemic certainly created challenges but we are honored by the outsized investor demand the fund received, which we believe is not only related to compelling opportunities that we are seeing but also the reputation and track record we’ve built over the past 13 years.”
South Street is headquartered in Charlotte, North Carolina and Charleston, South Carolina. Currently, it has over $1.3 billion of assets under management.