Reserve Fund II

LP Liquidity & Co-Invest Reserve


A reserve dedicated to LP liquidity solutions and co-investment support across the platform’s investment funds.

$1.580B
Committed Capital
N/A
Net IRR Target
8 yr
Fund Term
Reserve
Strategy
Strategy

Investment thesis

UpManagement Reserve Fund II holds capital to support limited-partner liquidity and co-investment across the platform. It provides structured liquidity options for LPs seeking early exits, and it stands ready to backstop and syndicate co-investment opportunities alongside the primary investment funds. The reserve deepens the platform’s relationship with its capital partners and widens access to the most compelling deals. This fund does not carry an IRR target; it is a liquidity and alignment vehicle governed by the investment committee and LP advisory committees.

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

  • Structured LP liquidity and secondary support
  • Co-investment backstop and syndication capacity
  • Alignment capital alongside primary funds
  • Capital-partner relationship deepening
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.

Liquidity fulfillment

LP requests supported

Co-invest capacity

Capital available to syndicate

Partner retention

Re-up and expansion of commitments

Alignment

GP/LP interest overlap

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