The Fund Family

Twenty-two vehicles. One aligned platform.

3 deploys capital through the 2026 and 2028 fund vintages — twenty-two total vehicles across investment, operations, and reserve capital, with dedicated support for property operations, technology, liquidity, and capital preservation.

Capital Total

Total Vehicles

Minimum LP Commitment

Net IRR Target Floor

Overview

The twenty-two consolidated fund strategies.

IUrban Boutique & Lifestyle HotelsUrban boutique and lifestyle hotel acquisition, repositioning, and operations$1.49B IIResort, Destination & Branded ResidencesResort, destination, and branded-residence hospitality assets$2.408B IIIHospitality Brand IP & Operating PlatformsHospitality brand IP and operating platforms$460M IVHotel-to-Residential ConversionHotel-to-residential conversion opportunities$640M VFranchised-Flag Scaled PortfoliosScaled portfolios of franchised-flag hospitality assets$1.07B VIHospitality Ancillary Revenue & TechnologyHospitality ancillary revenue and technology$920M VIIHospitality CreditCredit strategies across the hospitality stack$490M Ops IPlatform Operations & Property ManagementPlatform operations and property management$538.2M Ops IIHospitality Technology & Revenue SystemsHospitality technology and revenue systems$530M Res ICapital Improvement & Strategic Acquisition ReserveCapital improvement and strategic acquisition reserve$1.066B Res IILP Liquidity & Co-Investment ReserveLP liquidity and co-investment reserve$1.07B XII3 Core I FundStabilized, income-producing assets with low leverage$785.1M XIII3 Core II FundStabilized, income-producing assets with low leverage$785.1M XIV3 Core-Plus FundStabilized assets with light value-add and modest leverage$523.4M XV3 Value-Add FundRepositioning, operational improvement, moderate risk$785.1M XVI3 Growth FundGrowth equity into scaling operators and platforms$785.1M XVII3 Opportunistic FundHigher-risk development, distressed, and high-return situations$1.047B XVIII3 Special Situations FundComplex, dislocated, and event-driven investments$523.4M Ops IIIPlatform Operations & Property ManagementPlatform operations and property management$376.8M Ops IVHospitality Technology & Revenue SystemsHospitality technology and revenue systems$371M Res IIICapital Improvement & Strategic Acquisition ReserveCapital improvement and strategic acquisition reserve$746.5M Res IVLP Liquidity & Co-Investment ReserveLP liquidity and co-investment reserve$749M

Founding Flagship

Fund 0 — the founding flagship of 3.

Fund 0 capitalizes founding-team payroll, the hospitality acquisition pipeline, brand and property-tech buildout, and a first-look property warehouse at the formation of the firm.

Fund 0

Founding Capital & Warehouse

Vehicle: 3 Fund 0, L.P. (Delaware)
Target size: $500,000,000
LP base: 15–25 LPs (anchor + insiders)
Minimum commitment: $1,000,000
Carried interest: 15% above a 7% preferred return
Investment period: 18 months
Fund term: 5 years + 2 × 1-yr GP extensions
First close target: Q3 2026
The ask: Anchor Fund 0 · $125M–$200M

Use of Capital

Where founding capital goes

Founding team payroll & runway: $140M · 28%
Hospitality pipeline reserve: $110M · 22%
Brand & property-tech stack: $90M · 18%
Working capital & office lease: $70M · 14%
First-look property warehouse: $60M · 12%
Legal, PPM & fund admin: $30M · 6%

2026 Investment Funds

Fund I through Fund VII.

Each investment fund is a Delaware limited partnership targeting a 13–18% net IRR, with a 9% compounded preferred return, 20% carried interest above the preferred, a 2% GP commitment, and a $2,000,000 minimum LP commitment.

Fund I

Urban Boutique & Lifestyle Hotels

$1.49B

Targets urban boutique and lifestyle hotels across acquisition, repositioning, and operations within the broader boutique and lifestyle hospitality sector.

First close target: Q2 2026
The ask: Anchor 3 Fund I · $74.5M to $149M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund II

Resort, Destination & Branded Residences

$2.408B

Targets resort, destination, and branded-residence hospitality assets across institutional-quality destination markets.

First close target: Q2 2026
The ask: Anchor 3 Fund II · $120.4M to $240.8M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund III

Hospitality Brand IP & Operating Platforms

$460M

Targets hospitality brand IP and operating platforms that support recurring platform value across the portfolio.

First close target: Q2 2026
The ask: Anchor 3 Fund III · $23M to $46M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund IV

Hotel-to-Residential Conversion

$640M

Targets hotel-to-residential conversion opportunities within the hospitality and real estate repositioning stack.

First close target: Q2 2026
The ask: Anchor 3 Fund IV · $32M to $64M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund V

Franchised-Flag Scaled Portfolios

$1.07B

Targets scaled portfolios of franchised-flag hospitality assets, applying platform-level revenue and operating discipline.

First close target: Q2 2026
The ask: Anchor 3 Fund V · $53.5M to $107M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund VI

Hospitality Ancillary Revenue & Technology

$920M

Targets hospitality ancillary revenue and technology systems that enhance portfolio operating performance.

First close target: Q2 2026
The ask: Anchor 3 Fund VI · $46M to $92M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund VII

Hospitality Credit

$490M

Targets hospitality credit opportunities across the capital stack, complementing the platform's equity strategies.

First close target: Q2 2026
The ask: Anchor 3 Fund VII · $24.5M to $49M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund sizes and terms are targets and are subject to the definitive offering documents for each fund. All figures are drawn from 3's confidential fund materials and are presented here for informational purposes only.

2028 Investment Funds

Core, growth, opportunistic, and special situations.

The 2028 vintage adds seven investment vehicles aligned to stabilized income, light value-add, repositioning, growth equity, higher-risk opportunistic situations, and complex event-driven investments.

Fund XII

3 Core I Fund

$785.1M

Targets stabilized, income-producing assets with low leverage.

First close target: Q2 2028
The ask: Anchor Fund XII · $39.3M to $78.5M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund XIII

3 Core II Fund

$785.1M

Targets stabilized, income-producing assets with low leverage.

First close target: Q2 2028
The ask: Anchor Fund XIII · $39.3M to $78.5M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund XIV

3 Core-Plus Fund

$523.4M

Targets stabilized assets with light value-add and modest leverage.

First close target: Q2 2028
The ask: Anchor Fund XIV · $26.2M to $52.3M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund XV

3 Value-Add Fund

$785.1M

Targets repositioning, operational improvement, and moderate-risk opportunities.

First close target: Q2 2028
The ask: Anchor Fund XV · $39.3M to $78.5M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund XVI

3 Growth Fund

$785.1M

Targets growth equity into scaling operators and platforms.

First close target: Q2 2028
The ask: Anchor Fund XVI · $39.3M to $78.5M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund XVII

3 Opportunistic Fund

$1.047B

Targets higher-risk development, distressed, and high-return situations.

First close target: Q2 2028
The ask: Anchor Fund XVII · $52.3M to $104.7M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund XVIII

3 Special Situations Fund

$523.4M

Targets complex, dislocated, and event-driven investments.

First close target: Q2 2028
The ask: Anchor Fund XVIII · $26.2M to $52.3M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Operations & Reserve Funds

Dedicated support capital.

Four operations funds and four reserve funds support portfolio infrastructure, property operations, technology systems, liquidity, and capital preservation across the platform.

Fund Operations I

Platform Operations & Property Management

$538.2M

Supports platform operations and property management across the 3 hospitality portfolio.

First close target: Q2 2026
The ask: Anchor 3 Operations Fund I · $26.9M to $53.8M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund Operations II

Hospitality Technology & Revenue Systems

$530M

Supports hospitality technology and revenue systems across owned and operated assets.

First close target: Q2 2026
The ask: Anchor 3 Operations Fund II · $26.5M to $53M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund Reserve I

Capital Improvement & Strategic Acquisition Reserve

$1.066B

Provides reserve capital for capital improvements and strategic acquisition opportunities.

First close target: Q2 2026
The ask: Anchor 3 Reserve Fund I · $53.3M to $106.6M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund Reserve II

LP Liquidity & Co-Investment Reserve

$1.07B

Provides reserve capital for LP liquidity and co-investment support across the platform.

First close target: Q2 2026
The ask: Anchor 3 Reserve Fund II · $53.5M to $107M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund Operations III

Platform Operations & Property Management

$376.8M

Supports platform operations and property management across the 2028 hospitality portfolio.

First close target: Q2 2028
The ask: Anchor Fund XIX · $18.8M to $37.7M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund Operations IV

Hospitality Technology & Revenue Systems

$371M

Supports hospitality technology and revenue systems across the 2028 platform.

First close target: Q2 2028
The ask: Anchor Fund XX · $18.6M to $37.1M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund Reserve III

Capital Improvement & Strategic Acquisition Reserve

$746.5M

Provides reserve capital for capital improvements and strategic acquisition opportunities in the 2028 vintage.

First close target: Q2 2028
The ask: Anchor Fund XXI · $37.3M to $74.7M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Fund Reserve IV

LP Liquidity & Co-Investment Reserve

$749M

Provides reserve capital for LP liquidity and co-investment support in the 2028 vintage.

First close target: Q2 2028
The ask: Anchor Fund XXII · $37.5M to $74.9M
Investment period: 5 years
Fund term: 10 years + 2 × 1-yr extensions

Partner with an operator-led hospitality platform.

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