Aegon Asset Management’s US real assets investment business has raised $135m (€117.2m) for its latest low-income housing tax credit fund.

Aegon Real Assets US (Aegon RA) said the tenth multi-investor LIHTC fund attracted four new investors as well as six repeat investors at close.

The fund is expected to be comprised of investments in 22 partnerships with properties located in 12 states across the country.

Aegon RA will also provide ongoing fund oversight and asset management services for the fund.

Lynn Ambrosy, a managing director for institutional investments for Aegon RA, said: “With this latest closing, we have raised over $3.2bn in capital for 55 funds.

“This is our 10th multi-investor LIHTC fund closing. Four new investors joined our platform alongside six repeat investors. The tax credit group has continued to attract new investor capital, with 11 new investors added in the past two years alone. We believe this is a clear sign that investors see the value in our institutional approach to the business.”

Aegon RA has been investing in tax credit partnerships since 1987.