Almanac Realty Investors has raised over $1.1bn (€934bn) for its eighth fund according to one investor.
San Diego City Employees’ Retirement System, which will be putting $20m into Almanac Realty Securities VIII, said the fund has received over two-thirds of its $1.5bn fundraising target.
Almanac Realty declined a request for comment.
As previously reported, Los Angeles Fire and Police Pensions, Nebraska Investment Council, Teacher Retirement System of Texas, New Mexico State Investment Council and Pennsylvania Public School Employees’ Retirement System have all invested capital into ARS VIII.
Pension fund Los Angeles City Employees Retirement System is also expected to add $35m into ARS VIII according to its meeting agenda.
The ARS fund series is set up to provide growth capital for public and private real estate companies in the US and Canada.
Almanac will co-invest up to $15m in the fund.