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

Audio By Carbonatix

LOS ANGELES & SHREVEPORT, La.--(BUSINESS WIRE)--Nov 12, 2025--

Real Estate Fund Manager American South Capital Partners (“ASCP”), a joint venture between SDS Capital Group and Vintage Realty Company, has successfully completed the first closing of its newest affordable housing investment vehicle, American South Real Estate Fund III (“ASREF III”), securing $60 million in initial capital commitments toward its $500 million target.

ASREF III builds on the strong momentum of its predecessor, ASREF II, which closed in February 2024 with $174 million in equity commitments, including the Fund’s first pension capital investment through funds managed by GCM Grosvenor. Investor commitments in ASCP’s mission-driven platform, which focuses on the preservation and development of affordable and workforce housing throughout the Southeastern United States, continues to accelerate. All of the ASREF III first close commitments are from investors who previously backed ASCP’s earlier funds, underscoring the platform’s strong performance and credibility.

Notably, GCM Grosvenor is committing capital on behalf of funds where it counts several large public pension plans as investors; the firm intends to grow this allocation throughout the fundraise.

“American South Capital Partners continues to deliver for our institutional clients while generating measurable social outcomes that closely align with their values,” said Peter Braffman, Managing Director at GCM Grosvenor.

ASCP specializes in providing equity financing to owners and developers of affordable and workforce housing projects across 10 Southern states: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, and Texas. Across its family of funds, ASCP has committed $199 million to 29 projects, supporting the development of 7,632 housing units, with 81% designated as affordable for families earning less than 80% of the area median income.

With ASREF II nearly fully invested, the timely close of ASREF III will allow ASCP to continue providing equity to its extensive pipeline of affordable housing projects across the Southeastern United States.

“The affordable housing crisis in the U.S., while a moral imperative for society – presents a compelling investment opportunity,” said Deborah La Franchi, ASCP Managing Partner and CEO of SDS Capital Group. “The seven-million-unit shortage of affordable housing across the US should shock us all. It is devastating for society to have this many families under such substantial financial strain. Institutional capital has a vital role in correcting this historic imbalance, and it can do so while generating the level of risk-adjusted-returns these investors expect.”

“We’re deeply grateful for the continued trust and enthusiasm from our investor community,” added David Alexander, ASCP’s Managing Partner and CEO of Vintage Realty Company. “Their support affirms our disciplined, outcome-oriented approach to real estate investing.”

About American South Capital Partners

American South Capital Partners manages a family of real estate impact funds focused on investing in transformative projects in 10 states across the Southern U.S. American South Capital Partners, is a joint venture between Los Angeles-based impact fund manager SDS Capital Group ( www.sds.capital ) and Vintage Realty Company, a Shreveport, Louisiana-based property developer/manager ( www.vintagerealty.com ).

About GCM Grosvenor

GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $86 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.

GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20251112263695/en/

CONTACT: Media Contact:

Bruce Beck/DB&R Marketing Communications, Inc.

[email protected]

KEYWORD: ILLINOIS CALIFORNIA LOUISIANA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY ASSET MANAGEMENT

SOURCE: American South Capital Partners

Copyright Business Wire 2025.

PUB: 11/12/2025 11:00 AM/DISC: 11/12/2025 11:00 AM

http://www.businesswire.com/news/home/20251112263695/en