Centerbridge Partners has so far raised $1.2bn (€1.04bn) for its latest North America and Europe opportunistic real estate fund, according to an investor’s meeting document.
Teachers’ Retirement System of Louisiana (TRSL) disclosed in the meeting document that it has approved a $70m commitment Centerbridge Partners Real Estate Fund II, a fund which expects to raise $1.5bn.
As previously reported, Centerbridge Partners raised $500m during the first quarter of the year for the fund.
According to the meeting document, Centerbridge had raised $1.2bn as of mid-September. The fund is expected to have up to 70% on a loan-to-value basis.
TRSL has also approved to commit up to $65m to Sares Regis Multifamily Value-Add Fund IV, a US apartment fund seeking to raise $500m.
TRSL said that the amount it intends to invest ultimately will not exceed 20% of the total size of the Sares Regis fund. The fund is expected to have up to 65% on a loan-to-value basis.
Sares Regis Group did not respond to a request for comment.
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