​Alex Brown plans $300m fundraise for sixth value-add real estate fund

Alex Brown Realty (ABR) is planning to raise $300m (€266m) for its latest value-add real estate fund.

According to sources, the company’s ABR Chesapeake Investors VI fund has a $400m hard cap.

ABR, which declined a request for comment, is known for buying a mid-sized of US real estate assets, often in the range of $20m to $40m.

US pension Santa Barbara County Employees Retirement System (SBCERS) stated in a board meeting document that it had approved a $10m investment in the fund.

The $3bn pension fund said it is planning to issue $50m of real estate fund commitments this year, most of which will be for non-core strategies.

SBCERS is considering redeeming capital from core open-ended funds, the details of which are yet to be disclosed.

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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