# Avatar Capital Partners Secures $156M for Fund II

> Avatar Capital Partners closes $156 million first round for Fund II with GCM Grosvenor and Texas TRS.
- Title: Avatar Capital Partners Secures $156M for Fund II · Pulse 2.0
- Summary: Avatar Capital Partners closes $156 million first round for Fund II with GCM Grosvenor and Texas TRS.
- Keywords: avatar capital partners, fund ii, gcm grosvenor, teacher retirement system of texas, japan residential real estate, institutional investment, real estate fund, first close, investment strategy, multifamily properties, Pulse 2.0
- Source: Pulse 2.0 — https://pulse2.com/avatar-capital-partners-156-million-first-close-for-fund-ii-with-gcm-grosvenor-and-teacher-retirement-system-of-texas
- Author: Amit Chowdhry
- Published: 2026-11-14T14:15:32+00:00
- Read time: 1 min
- Topics: avatar capital partners, fund ii, gcm grosvenor, teacher retirement system of texas, japan residential real estate, institutional investment, real estate fund, first close, investment strategy, multifamily properties, startups, business
## Fund II First Close
Avatar Capital Partners secured $156 million in commitments at the first close of Fund II targeting $300 million.
## Strategic Partnerships
GCM Grosvenor and Teacher Retirement System of Texas will serve as anchor investors in Fund II.
## Fund II Target
Fund II aims to raise $300 million for Japanese residential real estate investments.
## Partnership Commitment
GCM Grosvenor and TRS committed up to $100 million as part of the strategic partnership.
## Fund I Deployment
Fund I closed in July 2025 with $105 million and completed five successful exits.
## Investment Strategy
ACP focuses on off-market opportunities through local relationships and proprietary sourcing.
## Portfolio Value
ACP manages a portfolio with gross asset value approaching $850 million.
## Leadership Team
Founding Partners Angel Li, Ryuta Ueda, and Ronald Chiu have worked together since 2010.
## Key Quotes
Angel Li: 'We are thrilled to welcome GCM Grosvenor and TRS as strategic partners.'

> We are thrilled to welcome GCM Grosvenor and TRS as strategic partners.
## Strategic Impact
The partnership supports ACP’s expansion into Japanese residential real estate with institutional capital.
## Key takeaway

Avatar Capital Partners secured $156 million in commitments for Fund II targeting $300 million in Japanese residential real estate investments.