CBRE Global Investors is back in the market to raise capital for its latest US value-add real estate fund.

According to sources familiar with the matter, the manager is currently raising an unknown sum for CBRE Strategic Partners US 9.

The predecessor CBRE Strategic Partners US 8 fund raised $1.3bn (€1.2bn) in November 2017.

CBRE GI declined a request for comment.

In a meeting document, Montana Board of Investments said it had committed $30m to the fund.

As previously reported, the $18.6bn pension fund was seeking to reduce its core real estate exposure in favour of other strategies. 

Montana Board said the latest commitment is part of a programme to invest $120m every year in real estate from 2020 to 2013.

It plans to focus on North American markets, including debt strategies.