Special Situations Fund

Special Situations Fund


Complex, dislocated, and event-driven investments. Bespoke transactions across the property management landscape.

$0.529B
Committed Capital
17–22%
Net IRR Target
8 yr
Fund Term
Special Sit.
Strategy
Strategy

Investment thesis

UpManagement Special Situations Fund invests in complex, dislocated, and event-driven property management transactions: carve-outs, corporate divestitures, litigation-driven ownership changes, and unusual capital-structure opportunities. The fund is capitalized for situations that require bespoke structuring rather than standard buyout mechanics — with legal, tax, and operating expertise dedicated to closing where others cannot.

Terms

Fund architecture

VehicleDelaware Limited Partnership
Term8 years (+ two 1-year extensions)
Preferred return8% preferred return
Carried interest20% carried interest above preferred
WaterfallAmerican waterfall with GP clawback
Minimum LP$1,000,000
AuditorPricewaterhouseCoopers LLP
Legal counselLePore Law Group
Target assets

Where this fund concentrates

  • Corporate carve-outs and divestitures
  • Event-driven ownership transitions
  • Complex capital-structure situations
  • Litigation and workout-driven acquisitions
Operating discipline

The numbers we run to

Every managed property is held to weekly operating metrics. These are the disciplines that distinguish an institutional operator from a passive fee collector.

Reserve availability

Undrawn capital ready to deploy

Deployment discipline

Committee-approved use of reserve

Expansion velocity

Speed to close opportunistic deals

Portfolio benefit

Assets improved by reserve programs

Property management is the most undervalued operating layer in real estate. Run it like the business it is.
Alexandra Pohl, Founder and CEO

Speak with our investor relations team

For fund materials, capital account information, and partnership inquiries, reach UpManagement directly.

Contact Investor Relations