$1.326B · Platform-wide
Growth equity into scaling affordable housing operators, developers, and platforms — second sleeve.
Gr3ySpace Growth II Fund extends the Growth mandate with a second capitalized pool. Growth II is targeted at follow-on opportunities, larger platform commitments, and LPs seeking incremental Growth-strategy exposure inside a shared policy framework.
What this fund does.
- Follow-on and expansion equity commitments
- Larger platform investments
- PropTech and compliance-tech scale-ups
- Consolidation and roll-up opportunities
- Separately capitalized Growth sleeve
Key economic terms.
- Net IRR Target
- 10–13% net IRR
- Vehicle
- Delaware Limited Partnership
- Fund Term
- 15 years (two 1-year extensions at GP discretion)
- Investment Period
- 5–7 years
- Carried Interest
- 15% above 7% preferred return (100% GP catch-up)
- Preferred Return
- 7%, compounded annually
- Distribution Waterfall
- European (whole-fund) waterfall
- GP Commitment
- 2% of total fund commitments
- Minimum LP Commitment
- $1,000,000
- Auditor
- PwC
- Legal Counsel
- LePore Law Group
Full fund terms are set forth in the Limited Partnership Agreement, Private Placement Memorandum, and Subscription Documents for the applicable fund vehicle. Fund interests are offered only to accredited investors and qualified purchasers.
Institutional cadence, matched to fund complexity.
Request the Growth II Fund data room.
Qualified LPs may request the Growth II Fund private placement memorandum, subscription documents, DDQ, Form ADV Parts 1 and 2A, audited fund financials, and ILPA Reporting Template samples through the Gr3ySpace Investor Relations team.