Bear Creek Closes Inaugural Real Assets Fund at $202 Million

Since its 2024 launch, the fund has deployed more than 70% of its capital, focusing on equity and credit investments within the housing, healthcare, and infrastructure sectors. The firm is already distributing cash to its partners through a combination of investment income and asset realizations. Beyond the primary fund, Bear Creek has executed two co-investments to provide its limited partners with deeper access to proprietary deal flow.

Partner Jonathan Stern attributed the successful close to the team’s targeted approach in niche markets where specialized underwriting remains a differentiator. The firm, which operates under the broader Denver-based Bear Creek Asset Management platform, now manages $280 million within its discretionary alternative investment strategy. Incubation Capital Partners acted as the exclusive advisor for the capital raise.