Founded in 2001 by Rick Scarola and Govan White, Covenant Capital Group is a Nashville-based real estate investment management firm specializing in value-add investments in apartment communities, with over $2 billion in assets under management. The firm's strategy includes acquiring apartment communities at discounted rates and enhancing them using focused management, and it has acquired and repositioned over 245 communities to date, now controlling over 16,700 units across various US markets while adhering to the United Nations Principles of Responsible Investing.
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(Latest available fund marks; returns metrics net of fees and expenses; fund size in billions)
Fund | Vintage | Mark | Size | Called | IRR | TVPI | DPI | RVPI |
---|---|---|---|---|---|---|---|---|
Covent Apartment Fund X (Institutiol), L.P. | 2021 | Mar. '23 | 95.0% | 1.4 | 0.3 | 1.1 | ||
Covent Apartment Fund VI (Institutiol), L.P. | 2008 | Mar. '23 | $0.6 | 100.0% | 14.0% | 1.6 | 1.6 | 0.0 |
Covent Apartment Fund IX, L.P. | 2018 | 100.0% | 25.0% | 1.8 | 1.2 | 0.6 | ||
Covent Apartment Fund IX, L.P. | 2018 | Mar. '23 | $0.5 | 100.0% | 25.0% | 1.8 | 1.2 | 0.6 |
Covent Apartment Fund VI (Institutiol), L.P. | 2008 | $0.4 | 100.0% | 14.0% | 1.6 | 1.6 | 0.0 | |
Covent Apartment Fund VIII, L.P. | 2015 | Mar. '23 | $0.4 | 100.0% | 18.0% | 1.6 | 1.6 | 0.0 |
Covent Apartment Fund X (Institutiol), L.P. | 2021 | $1.2 | 95.0% | 1.4 | 0.3 | 1.1 | ||
Covent Apartment Fund V (Institutiol), L.P. | 2007 | $1.0 | 100.0% | 3.0% | 1.2 | 1.2 | 0.0 | |
Covent Apartment Fund VIII, L.P. | 2015 | 100.0% | 18.0% | 1.6 | 1.6 | 0.0 | ||
Covent Apartment Fund V (Institutiol), L.P. | 2007 | Mar. '23 | 100.0% | 3.0% | 1.2 | 1.2 | 0.0 |