Covenant raises $1.1bn for value-add multifamily strategy

Covenant Capital Group closed its 12th value-add multifamily fund with $860.35 million in capital commitments, marking the largest fundraise in the firm's 25-year history. The Nashville-based investment firm also raised $269.73 million for a sidecar vehicle, the Covenant Affordable Housing Fund, bringing total capital raised to more than $1.1 billion