Abacus Capital Group has crossed the halfway mark towards its $2bn (€1.75bn) target for its latest US apartments fund, according to regulatory filings.
The manager has secured $1.1bn in capital commitments to date for Abacus Multi-Family Partners VII, as detailed in an SEC filing from last month.
Recent backing for the fund includes a $150m commitment from the South Carolina Retirement System, disclosed in pension board documentation.
As previously reported, existing Partners VII backers include New York State Teachers Retirement System, Oregon Public Employees Retirement Fund, Contra Costa County Employees’ Retirement Association, Indiana Public Retirement System and San Joaquin County Employees’ Retirement Association.
Partners VII, which targets value-add garden-style apartments, has already started investing with the $158m acquisition of Abbey Woods Apartments, a 470-unit residential complex in Danbury, Connecticut.
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