Clarion and Campus raise $115m for student housing fund

Clarion Partners has raised $114.6 million in a first close for its Campus-Clarion Student Housing Partners, according to a filing with the SEC. The value-added fund launched in 2013 with a $550 million fundraising goal.

Clarion’s co-general partner in the vehicle is Campus Apartments, a Philadelphia-based student housing developer and operator. Campus owns and/or manages nearly 28,000 beds in 24 states with a portfolio value in excess of $2.0 billion.

Clarion and Campus did not provide comment on their fundraising activity.

Clarion has invested in the student housing sector since1999, and the firm is expanding its interest in the market with Campus-Clarion Student Housing Partners.

Clarion Partners has approximately $