Michael Bailey’s Fireside Financial, a private equity firm based in Edwardsville, has launched a third real estate investment fund. And already, $75 million of the planned $500 million fund has been raised, according to documents filed with the Securities and Exchange Commission. Bailey said the rest of the money is likely to be raised over the next 18 months.
Similar to the last two Fireside funds, Bailey said he’ll use the money to invest in multifamily, self-storage and office properties in the Midwest, viewing multifamily as a stable opportunity and office as more of a value-add play.
