Kennedy Wilson has raised $500m for its fifth real estate fund.
The US, value-added, closed-end fund was backed by investors from the US, Europe and the Middle East.
The manager has committed $60m (€55m) to the fund, which attracted new and existing investors.
The company said public and corporate pension funds, including Fortune 500 companies, backed the fund.
The manager is targeting a net IRR of 15% for the fund, which will invest across the multifamily, office, retail and residential sectors and focus on core US West Coast markets.
William McMorrow, chairman and chief executive at Kennedy Wilson, said the fund was the company’s largest US fund raise.
Nine multifamily, office, retail and residential assets worth $365m (€334m) are currently held by the fund, which has so far deployed $140m of equity.
The fund has invested in Denver, California, Oregon and Utah, with two assets close to completion in the Greater Seattle area.