The Davis Cos. has expanded its capacity for investments by more than $977.1 million with the final closing of its fifth fund — the firm's largest haul to date.

Boston-based Davis raised $877.1 million for Davis Investment Ventures Fund V, in addition to a co-investment opportunity bringing in another $100 million. The firm seeks to capitalize on market dislocations across multiple asset classes including debt and properties.

The fund will emphasize investments in its three core property types of multifamily, science and technology, and industrial and self-storage, but will also include retail.

Davis Investments Ventures seeks to identify properties with hidden value on which the firm plans to undertake asset-level improvements.

“There is significant distress in the current market, and we intend to be nimble and opportunistic where we see a mismatch between pricing and risk,” Quentin Reynolds, chief investment officer at Davis, said in a statement. “We will be exploring investments across our target asset classes, with a focus on markets driven by intellectual capital, innovation, and population flows.”

The fund’s most recent acquisition was Middlesex Marketplace, a 38,243-square-foot retail center in Burlington, Massachusetts, purchased for $14.1 million, or about $368.69 per square foot, according to CoStar data. At the time of closing, the center was reported to be 89% leased.

In addition to Massachusetts, early Fund V investments include assets in Rhode Island, Florida, New York, and Virginia, according to the firm.

Since entering the fund management business at the height of the global financial crisis in 2009, Davis has now raised about $3 billion combined across its value-add fund series.

Park Madison Partners served as Davis’ exclusive U.S. institutional placement agent.