Cypress raises $386m for retail fund

Dallas-based Cypress Equities has raised $386.25 million for Cypress Acquisition Partners Retail Fund, the emerging manager’s first fund, according to a filing with the SEC. Credit Suisse is the fund’s placement agent.

The value-added/opportunistic fund launched in March 2012 looking to raise between $300 million and $400 million, leaving it with only $13.75 million left to raise toward its upper equity target. It has raised $190.6 million since this time last year, according to an SEC filing from June 2013.

The fund is targeting a 17 percent return by acquiring and devel