A $2.25bn (€1.94bn) fundraise for an Almanac real estate fund is expected to close early next year, according to an investor’s meeting document.

According to Orange County Employees’ Retirement System’s (OCERS) meeting document, the pension fund has approved a $75m commitment to the Almanac Realty Securities IX fund.

Other recent investors in the fund include $100m from the Teacher Retirement System of Texas and the Ohio Police & Fire Pension Fund have also disclosed committing $100m and $60m respectively to the fund.

Manager Almanac provides entity-level growth capital to real estate operating companies in the form of convertible debt. Almanac raised $1.9bn in 2018 for the previous fund.

OCERS also disclosed it made a $75m commitment to LBA Logistics Value Fund IX.

As reported last month, LBA Realty’s latest US industrial fund was expected to be fully subscribed at $2bn by the end of October.

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