{"url":"https://newsforagent.com/news/2026-11-13/avatar-capital-partners-fund-ii-first-close","markdown_url":"https://newsforagent.com/news/2026-11-13/avatar-capital-partners-fund-ii-first-close.md","title":"Avatar Capital Partners Closes $156 Million First Fund II","headline":"Avatar Capital Partners Raises $156 Million First Close for Japan Living Fund II","description":"Avatar Capital Partners secured $156 million in a first close for Fund II, targeting $300 million for Japan's living sector with GCM Grosvenor and TRS.","section":"Funding","published_at":"2026-11-13T02:30:58+00:00","modified_at":"2026-11-13T02:30:58+00:00","author":"News Desk","key_takeaways":["Avatar Capital Partners secured US$156 million in commitments for the first close of Fund II, which targets US$300 million.","GCM Grosvenor and Teacher Retirement System of Texas are anchor investors, with a commitment of up to US$100 million.","Fund I closed in July 2025 with US$105 million and was fully deployed within 12 months, with five exits to date."],"companies":[{"name":"Avatar Capital Partners","is_primary":true,"profile_url":null,"website":"https://www.avatarcp.com"},{"name":"Teacher Retirement System of Texas","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0009tzv/teacher-retirement-system-of-texas","website":"https://www.trs.texas.gov/Pages/Homepage.aspx"},{"name":"GCM Grosvenor","is_primary":false,"profile_url":"https://akta.pro/company-profiles/00000x2/gcm-grosvenor","website":"https://www.gcmgrosvenor.com"}],"source":{"publisher":"PR Newswire","title":"Avatar Capital Partners Secures US$156 Million First Close for Fund II and Forms Strategic Partnership with GCM Grosvenor and Teacher Retirement System of Texas","url":"https://www.prnewswire.com/news-releases/avatar-capital-partners-secures-us156-million-first-close-for-fund-ii-and-forms-strategic-partnership-with-gcm-grosvenor-and-teacher-retirement-system-of-texas-302937925.html"},"other_sources":[],"tags":["Funding","Avatar Capital Partners","Teacher Retirement System of Texas","GCM Grosvenor"],"body_markdown":"Avatar Capital Partners secured US$156 million in commitments for the first close of its Fund II, which is targeting US$300 million for Japan's living sector, with GCM Grosvenor and Teacher Retirement System of Texas as anchor investors. The firm announced the close and a new strategic partnership with the two investors on November 12, 2026, according to [PR Newswire](https://www.prnewswire.com/news-releases/avatar-capital-partners-secures-us156-million-first-close-for-fund-ii-and-forms-strategic-partnership-with-gcm-grosvenor-and-teacher-retirement-system-of-texas-302937925.html).\n\n## Avatar Capital Partners' Fund II First Close\n\nAvatar Capital Partners is an Asia-based alternative asset management platform led by Founding Partners Angel Li, Ryuta Ueda and Ronald Chiu, who have worked together since 2010. Fund II attracted commitments from global institutional investors, led by a commitment of up to US$100 million from [GCM Grosvenor](https://akta.pro/company-profiles/00000x2/gcm-grosvenor) and [Teacher Retirement System of Texas](https://akta.pro/company-profiles/0009tzv/teacher-retirement-system-of-texas). GCM Grosvenor's real estate practice and TRS will serve as anchor investors and strategic partners supporting the firm's institutional expansion.\n\n\"We are thrilled to welcome GCM Grosvenor and TRS as strategic partners,\" Li said. \"Their support is a strong endorsement of our strategy and an important milestone in ACPs continued growth.\"\n\nFund II will build on the firm's strategy of capitalizing on off-market opportunities across Japan's living sector. The firm cited favorable demographic trends, sustained rental demand, accelerating rental growth and an attractive financing environment as factors behind the sector's long-term investment opportunities.\n\n\"Our deep local relationships provide access to opportunities beyond traditional sourcing channels,\" Ueda said. \"We remain focused on disciplined execution and delivering attractive long-term returns.\"\n\nAvatar Capital Partners closed Fund I in July 2025 with US$105 million. Fund I was fully deployed within 12 months of closing and has completed five exits to date. The firm has built a multifamily portfolio with a gross asset value of nearly US$850 million and manages capital for institutional investors and family offices.\n\nPeter Braffman, Managing Director at GCM Grosvenor, said the firm was excited to partner with the ACP team \"to help drive the firm's next phase of growth and expansion.\" Danielle Even, Executive Director at GCM Grosvenor, said ACP's local relationships and sourcing capabilities set it apart.\n\n## GCM Grosvenor's Real Estate Role\n\nGCM Grosvenor is a global alternative asset management solutions provider with approximately $97 billion in assets under management across private equity, infrastructure, real estate, credit and absolute return strategies. The firm has specialized in alternatives for more than 50 years and serves institutional and individual clients with a team of approximately 550 professionals. GCM Grosvenor is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}