LP Liquidity & Co-Investment Reserve (Vintage II)
The 2028 successor liquidity reserve. Provides limited-partner secondary liquidity and co-investment support across the vintage II portfolio.
Investment thesis
UpManagement Reserve Fund IV is the 2028-vintage successor to Reserve Fund II. It supports limited partners across the vintage II portfolio with disciplined secondary liquidity and co-investment participation. The reserve is governed by the investment committee under standard eligibility and pricing controls, and does not carry an IRR target; it exists to ensure that vintage II LPs have institutional-quality liquidity and co-invest options.
Fund architecture
Where this fund concentrates
- Vintage II LP secondary liquidity
- Co-investment participation across vintage II funds
- Structured LP interest transfers
- Balance-sheet backstop for platform commitments
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.
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