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ElmTree Funds

Private equity

St. Louis · 36 people tracked

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Investment thesis

ElmTree Funds pursues a focused investment strategy in the build-to-suit, net-lease commercial real estate market. It targets the acquisition of newly constructed, mission-critical and operationally significant single-tenant industrial assets leased on a long-term basis to credit-worthy, investment-grade tenants throughout the United States. The firm emphasizes its investment team's depth of experience across sourcing, construction, investing, and financing. As of 2025, ElmTree was acquired by BlackRock.

Source: firm website, verified Sep 29, 2026.

Check
$20M – $150M
HQ
St. Louis, US
Instruments
Equity
Founded
2011
AUM
$7.8B

Team · 36 people

from the firm's website & curated & public directories
Jason Ridgway· Head of Capital Markets
Kelley Mueller· Administrative Assistantin
Kerry Gawrych· Chief Financial Officerin

Fund performance · per public LP disclosures

as of Sep 2024
FundVintageCommittedNet IRRTVPIDPI
ElmTree LeaseLPs: New York City Fire Department Pension Fund2020——12.00x—

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

What is ElmTree Funds's typical check size?
ElmTree Funds typically writes checks of $20M – $150M.
What sectors does ElmTree Funds focus on?
ElmTree Funds focuses on PropTech.
Where is ElmTree Funds located?
ElmTree Funds is headquartered in St. Louis, US.

Images

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