Funds
Twenty-four fund vehicles carry the platform across two vintages: sixteen investment funds covering the full property management spectrum, four operations funds, and four reserve funds. Each is a Delaware limited partnership sharing a single institutional governance framework.
Eight strategies across the property management spectrum
Commercial, Industrial & Mixed-Use Property Management
Target net IRR 17–22%. Strategy: Commercial.
Explore fund Investment Fund II · $0.820BResidential Property Management
Target net IRR 17–22%. Strategy: Residential.
Explore fund Investment Fund III · $0.870BAffordable Housing Compliance Property Management
Target net IRR 17–22%. Strategy: Affordable.
Explore fund Investment Fund IV · $0.770BHOA & Community Association Management
Target net IRR 17–22%. Strategy: HOA.
Explore fund Investment Fund V · $0.710BStudent Housing Property Management
Target net IRR 17–22%. Strategy: Student.
Explore fund Investment Fund VI · $0.530BSenior Living Property Management
Target net IRR 17–22%. Strategy: Senior Living.
Explore fund Investment Fund VII · $0.900BFacilities Management & Maintenance Services
Target net IRR 17–22%. Strategy: Facilities.
Explore fund Investment Fund VIII · $0.820BProperty Management Technology & PropTech Investments
Target net IRR 17–22%. Strategy: PropTech.
Explore fundThe platform’s operating backbone
Operations funds capitalize the people and technology infrastructure that let acquired management businesses run to a single institutional standard.
Optionality and liquidity
Reserve funds hold committed capital for opportunistic expansion and for limited-partner liquidity and co-investment support.
Eight risk-return sleeves for the vintage II deployment
The 2028 vintage extends the platform with dedicated core, core-plus, value-add, growth, opportunistic, and special-situations sleeves — each capitalized to institutional scale.
Core I Fund
Target net IRR 17–22%. Strategy: Core.
Explore fund Core II Fund · $0.794BCore II Fund
Target net IRR 17–22%. Strategy: Core.
Explore fund Core-Plus Fund · $0.529BCore-Plus Fund
Target net IRR 17–22%. Strategy: Core-Plus.
Explore fund Value-Add Fund · $0.794BValue-Add Fund
Target net IRR 17–22%. Strategy: Value-Add.
Explore fund Growth Fund · $0.794BGrowth Fund
Target net IRR 17–22%. Strategy: Growth.
Explore fund Opportunistic I Fund · $0.529BOpportunistic I Fund
Target net IRR 17–22%. Strategy: Opportunistic.
Explore fund Opportunistic II Fund · $0.529BOpportunistic II Fund
Target net IRR 17–22%. Strategy: Opportunistic.
Explore fund Special Situations Fund · $0.529BSpecial Situations Fund
Target net IRR 17–22%. Strategy: Special Sit..
Explore fundVintage II operating and technology capacity
The 2028 operations funds extend platform-wide operations, talent, and technology infrastructure to support the vintage II investment portfolio.
Vintage II optionality and liquidity
The 2028 reserve funds mirror the 2026 vintage — expansion capital and LP liquidity support — dedicated to the vintage II portfolio.
Common fund architecture
Speak with our investor relations team
For fund materials, capital account information, and partnership inquiries, reach UpManagement directly.
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