American South Capital Partners Announces $60 Million First Close of Its Third Affordable Housing Fund

American South Capital Partners has announced a $60 million first close of its third affordable housing fund, ASREF III, targeting $500 million. Investor commitments continue to accelerate, with all first close commitments from previous fund investors. GCM Grosvenor is committing capital on behalf of funds with large public pension plans, with plans to grow the allocation throughout the fundraise. The fund focuses on preserving and developing affordable and workforce housing throughout the Southeastern United States.