Life Capital is expected to achieve its USD 200 million target at the first close for its next flagship pool, sources told Buyouts.
LSM Management is acting as the exclusive placement agent for fundraising from the Middle East and Far East. Six Korean investors have reportedly signed subscriptions for the first round.
Launched by Marc Nasir in 2016, Life Capital completed its first flagship fund for U.S. office space in 2018. Marc, who spent nearly two decades at Blackstone Group, is listed in Life Capital’s Form ADV as controlling the management of the company. James McArthur is listed as the other managing partner.
Life Capital managed approximately USD 316 million as of December 31, 2017, according to the Form ADV. The firm targets founder-led mid-market businesses across various sectors, including healthcare and life sciences, software and technology services, business services and engineered products. It invests USD 5 million to USD 25 million of equity in properties in the UK senior-living space.
Life Capital most recently acquired five senior homes in March 2019. In December of that year, the firm invested in a hospital in southwest London. New York-based Life Capital stated that it closed Fund I at USD 250 million in 2017, beating its USD 200 million target.
Fund-of-funds Saplings Alternatives helped anchor the fund’s debut with a substantial commitment, according to a statement from Life Capital.
The fund has already committed USD 50 million to properties in New York City, focusing on office spaces with value-add potential across its assets.