The Davis Companies said Wednesday it had expanded its capital base by more than $977.1 million amid the real estate fund management industry’s most challenging fundraising cycle in more than a decade. Boston-based Davis has raised $877.1 million into Davis Investment Ventures Fund V, in addition to a co-investment sidecar vehicle totaling $100 million. 

Fund V will seek to capitalize on market dislocations across multiple commercial real estate asset classes. In addition to properties in Massachusetts and Rhode Island, early Fund V investments include assets in Florida, New York and Virginia. 

“At an historically difficult time to raise private real estate capital, the success marked by the final closing of Fund V, our largest to date, represents strong investor endorsement of our vertically integrated developer/operator platform,” said Stephen Davis, President of Davis. “We have a nearly 50-year track record of unlocking superior investment opportunities which are not widely recognized by the market, particularly at times of disruption and uncertainty.” 

Investors in Fund V include major pension funds, university and other institutional endowments, foundations, single family offices, high and ultra-high net worth investors and an offshore sovereign wealth fund. 

Park Madison Partners served as Davis’ exclusive U.S. institutional placement agent.

Pictured: Davis headquarters in Boston.